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Royal Dutch Shell pressured as earnings disappoint

By Tricia Wright: Thu Jul 26, 2012 5:21pm IST

Heavyweight UK energy stock Royal Dutch Shell was left nursing a fall of 2.7 percent after its second-quarter earnings lagged expectations.

Volume in the shares was nearly one and a half times its 90-day daily average.

Weaker prices for oil worldwide and for gas in North America saw Shell, the second largest of the western world oil “majors” behind Exxon Mobil, report a fall in second-quarter earnings to around $6 billion from $8 billion a year ago on a current cost of supply basis. The result undershot analysts’ predictions of around $6.3 billion.

Exxon Mobil reports earnings later on Thursday.

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