By Sara Sjolin, MarketWatch
Sky climbs after profit doubles
LONDON (MarketWatch) -- The U.K.'s benchmark stock index dropped
from a five-month high on Wednesday, with oil companies adding
pressure on the back of a slide in crude prices.
The FTSE 100 index slipped 0.1% to 6,862.10, on track to break a
two-day winning streak. On Tuesday, it closed at the highest level
since early September 2014, boosted by a 7% rally in oil prices and
eased jitters over Greece.
On Wednesday, oil futures retreated and pulled the U.K.-listed
oil majors down with them. Shares of Tullow Oil PLC lost 2.4%, BP
PLC (BP) dropped 1.5%, and Royal Dutch Shell PLC (RDSB) shaved off
0.8%.
Mining firms also declined, as metals traded mixed. Anglo
American PLC fell 1.7%, BHP Billiton PLC (BHP) lost 1.7%, Rio Tinto
PLC (RIO) gave up 1.5%, and Antofagasta PLC dropped 1%.
Shares of Hargreaves Lansdown PLC slumped 5.1% after the asset
manager said the impact from lower interest rates likely will hit
revenue growth in 2015.
On a more upbeat note, shares of Sky PLC climbed 2%. The
satellite broadcaster said profit more than doubled in the first
half of the fiscal year.
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