Tullow Oil Surges, Service Index Falls

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Author: 123jump.com Staff
123jump.com
Last Update: 3:48 PM EDT May 06 2008

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UK stocks closed nearly unchanged after the service index in April fell to a five year low. Of the 102 FTSE 100 stocks 26 gained, 74 declined and 2 were unchanged. Tullow Oil led advancers in the index shares with a rise of 24% after crude oil prices jumped to $122 per barrel, boosted by further supply disruptions. British Land fell after Morgan Stanley lowered its rating on the company.

In London FTSE 100 Index closed lower 0.30 or 0.00% to 6,215.20, in Paris CAC 40 Index decreased 22.44 or 0.44% to close at 5,040.92 and in Frankfurt DAX index lower 34.98 or 0.50% to close at 7,017.10. In Zurich trading SMI decreased 114.59 or 1.50% to close at 7,543.67.

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