UK shares hit by sliding oil price, lockdown worries [Reuters (UK)]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: Reuters
UK shares hit by sliding oil price, lockdown worries - Reuters 3 Min Read (Reuters) - Sliding oil prices and grim predictions about the global economy dragged the FTSE 100 down on Wednesday, while expectations of a longer British lockdown knocked UK midcap shares. The internationally focused FTSE 100 .FTSE fell 3.3%, while the FTSE Mid 250 index .FTMC , comprising companies more exposed to the British economy, posted deeper losses of 4.6%. Shares in Royal Dutch Shell ( RDSa.L ) and BP ( BP.L ) fell over 6% each as oil prices dived on concerns about oversupply concerns and forecasts of global demand crumbling to its worst levels in a quarter of a century. “Going forward, sustained oil prices at these levels signal a risk, with the energy industry being massively disrupted, as we saw back in 2015,” said Brad McMillan, chief investment officer for Commonwealth Financial Network. Further, weak U.S. data worsened the mood after the International Monetary Fund warned the global economy
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