Jakarta, Financeroll.com – British shares ended barely in the red Wednesday, with modest gains erased by losses among London-traded oil majors before the closing bell.
Britain's FTSE 100 index fell 0.1%, or 5 points, to close at 3,925.52.
In energy trading, oil futures pushed back above $50 a barrel after U.S. data showed a smaller-than-expected rise in oil inventories. Oil majors trimmed earlier losses but still finished in negative territory. Shares of BP fell 0.5% and Royal Dutch Shell dropped 0.8%. Natural-gas producer BG Group also lost ground, falling 2.7%.
Among the upside standouts, shares of Smith & Nephew rose 6.4%.
Also gaining, shares of engine maker Rolls-Royce advanced 0.5%, trimming earlier gains. Shares jumped after the firm announced an order worth up to $900 million to provide engines for Saudi Arabian Airlines. The contract includes a long-term service agreement.
Meanwhile, shares of Taylor Wimpey climbed a further 8%, extending their recent strong run. The home builder said that it has formally proposed to amend the terms of some of its bonds, extending the maturity to 2012 for a fee.
In energy trading, oil futures pushed back above $50 a barrel after U.S. data showed a smaller-than-expected rise in oil inventories. Oil majors trimmed earlier losses but still finished in negative territory. Shares of BP fell 0.5% and Royal Dutch Shell dropped 0.8%. Natural-gas producer BG Group also lost ground, falling 2.7%.
Among the upside standouts, shares of Smith & Nephew rose 6.4%.
Also gaining, shares of engine maker Rolls-Royce advanced 0.5%, trimming earlier gains. Shares jumped after the firm announced an order worth up to $900 million to provide engines for Saudi Arabian Airlines. The contract includes a long-term service agreement.
Meanwhile, shares of Taylor Wimpey climbed a further 8%, extending their recent strong run. The home builder said that it has formally proposed to amend the terms of some of its bonds, extending the maturity to 2012 for a fee.
