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SHEL Shell Plc

2,560.50
12.00 (0.47%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Shell Plc LSE:SHEL London Ordinary Share GB00BP6MXD84 ORD EUR0.07
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  12.00 0.47% 2,560.50 2,561.50 2,562.00 2,573.50 2,549.50 2,557.50 9,577,860 16:35:26
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 316.62B 19.36B 2.9804 8.59 166.39B

LONDON MARKETS: FTSE 100 Drops Into Correction; Shire Losses Deepen

16/10/2014 3:55pm

Dow Jones News


Shell (LSE:SHEL)
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By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- The U.K.'s FTSE 100 fell Thursday, registering a more than 10% drop from its 2014 high, as part of a flurry of selling that's hit equity markets worldwide.

The FTSE 100 was down 1.1% in afternoon trade in a volatile session which saw the index open higher then drop by as much as 2.2%. It managed to come off intraday lows as trading got underway in the U.S., though the S&P 500 (SPX) and the Dow Jones Industrial Average (DJI) each slumped at the open.

The FTSE 100 fell 2.8% on Wednesday, the fall stoked by persistent worries about slowing global growth. At its lowest point on Thursday, the FTSE 100 marked an 11.7% decline from its high this year, reached in May.

The oil and gas group on Thursday fell 1.1% as oil futures (CLX4) fell below $81 a barrel. Tullow Oil shares gave up 3.3%, Royal Dutch Shell PLC slumped 2.6%, and BP PLC fell 0.5%.

Shire PLC was the worst price-performer for a second straight session, losing 9.5%. The board of U.S. drug maker AbbVie Inc. (ABBV) late Wednesday pulled its recommendation to buy the British biopharmaceuticals maker. AbbVie on Wednesday said it is re-evaluating its planned takeover of Shire because new tax rules from the U.S. Treasury Department make the deal less attractive.

Tesco PLC was down 0.9% after Warren Buffett's Berkshire Hathaway (BRKA) reduced its holdings of the supermarket chain, according to a filing released on Thursday. Berkshire Hathaway now owns less than 3% of Tesco, down from around 4%, which was the fourth largest stake in the company.

The sale comes after Tesco revealed in September that it overstated its first-half profit forecast by 250 million pounds ($400 million). Buffett has since said he made a "huge mistake" by investing in the company.

Holding to gains were shares of Antofagasta PLC . They rose 1.3% after UBS raised its rating on the copper miner to neutral from sell. Engineering group GKN PLC was upgraded to outperform from neutral at Exane BNP Paribas. Its shares were up 2.2%.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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