FTSE 100 drops to six-month low on weak oil stocks and uncertainty across Europe
Weak oil stocks and economic uncertainty across Europe has dragged the FTSE 100 down more than 1 per cent to a six-month low.
Britain's top index has fallen today, along with the German DAX despite the pound and euro dropping against the dollar.
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Royal Dutch Shell shares dropped 2.4 per cent this morning before climbing back up slightly later in the day and BP also fell 4.3 per cent before gaining back to 1.8 per cent down for the day.
The FTSE 100 dropped 77 points to 7,240 – its lowest level since April.
The banking sector was also to blame for the drop, with Barclays – down 2 per cent – and Deutsche Bank – down 1.5 per cent leading the way.
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The Italian FTSE MIB led the European drop, falling 470 points and 2.3 per cent, after the country's government intensified its row with the European Union over its budget.