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Shell profits fail to boost shares

PRESS ASSOCIATION

3 FEBRUARY 2011

Royal Dutch Shell’s profits haul of £11.5 billion for 2010 has failed to win over the City after a disappointing fourth quarter performance.

Shares in the Anglo-Dutch giant slumped 3%, or 73.5p to 2177.5p, after tough downstream trading left earnings in the final three months of 2010 short of the 4.7 billion US dollars (£2.9 billion) anticipated in the City.

The pressure on the oil giant, which sparked a fall of 7.4p to 480.6p for rival BP, meant the FTSE 100 Index slipped 35.4 points to 5964.6 following a strong performance in recent days.

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