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Daily Telegraph: Market report

By Josephine Moulds
Last Updated: 12:58am GMT 30/12/2006
FTSE falls on a quiet day ahead of break

City trader

Oil stocks were down on a weaker crude price as traders disregarded a sharp drop in US crude stockpiles on Thursday night. BP slid 4 to 567½p. Royal Dutch Shell was hit by news that it will be made to foot the bill for huge cost overruns at the Sakhalin-2 oil and gas project in Russia together with its two Japanese partners. It retreated 12p to £17.90. BG Group, which on Thursday announced it had bought a US power plant, lost 4½ to 693p.

Cairn Energy, however, bucked the market trend, clawing back most of Thursday’s losses to finish up 21p at £17.99

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/12/30/cxmktrep30.xml

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