Downbeat Shell drags FTSE 100 lower

A poor set of results from FTSE 100 big beast Shell pulled London’s premier index down during the opening session of trading today.

The blue-index dipped 0.23 per cent to 7,236.77 points, with the oil megacap’s two listed shares falling more than 1.70 per cent.

Shell published results this morning showing earnings slipped 25 per cent to $4.1bn, hitting shareholders to the tune of $477m in the period, after raking in $3.4bn in the previous quarter.

Shell represents an enormous share of the FTSE 100 meaning movements in its share price has a sizeable impact on the index.

The mid-cap FTSE 250 was also downbeat this morning, dipping 0.37 per cent to 23,086.37 points, led lower by builder merchant Travis Perkins.

The pound strengthened 0.12 per cent against the greenback to buy $1.3764.

More to follow.