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| FTSE 100 dragged lower by oil firms | |
| (7 months later) | |
| (Close): The London market came under pressure again, with shares in oil firms being hit by the recent decline in the price of crude. | (Close): The London market came under pressure again, with shares in oil firms being hit by the recent decline in the price of crude. |
| After rebounding on Friday, the FTSE 100 fell 43.22 points or 0.68% to 6,267.07. | After rebounding on Friday, the FTSE 100 fell 43.22 points or 0.68% to 6,267.07. |
| The largest faller was BG Group which fell 3.8%. was 2.9% lower. | The largest faller was BG Group which fell 3.8%. was 2.9% lower. |
| Petrofac dropped 2.8% after three investment banks cut their price target for the company's shares. | Petrofac dropped 2.8% after three investment banks cut their price target for the company's shares. |
| Last week, the price of Brent crude oil hit a near four-year low of $82.60 a barrel. On Monday, Brent stood at $84.74 a barrel, while US crude also fell to $81.89 a barrel. | Last week, the price of Brent crude oil hit a near four-year low of $82.60 a barrel. On Monday, Brent stood at $84.74 a barrel, while US crude also fell to $81.89 a barrel. |
| Tesco shares rose 2.7% to 179.30p after a report in the Times said some private equity groups were planning to bid for the supermarket's Asian business. | Tesco shares rose 2.7% to 179.30p after a report in the Times said some private equity groups were planning to bid for the supermarket's Asian business. |
| Tesco is due to report half-year results on Thursday, when it should give more details on its profits guidance error. | Tesco is due to report half-year results on Thursday, when it should give more details on its profits guidance error. |
| Its shares have dropped 20% since it warned last month that it could have overstated its half-year profit guidance by £250m. | Its shares have dropped 20% since it warned last month that it could have overstated its half-year profit guidance by £250m. |
| Outside the FTSE 100, shares in Spirit Pub Company jumped 9.62% after Greene King improved its takeover offer for the company. | Outside the FTSE 100, shares in Spirit Pub Company jumped 9.62% after Greene King improved its takeover offer for the company. |
| Spirit says its board will accept the bid if other terms can be worked out. | Spirit says its board will accept the bid if other terms can be worked out. |
| On the currency markets, the pound rose 0.48% against the dollar to $1.617, while against the euro it was up 0.19% at 1.263 euros. | On the currency markets, the pound rose 0.48% against the dollar to $1.617, while against the euro it was up 0.19% at 1.263 euros. |