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FTSE falls on Greece and oil woes FTSE falls on Greece and oil woes
(about 3 hours later)
(Open): London's leading shares fell in early Tuesday trading as fears persisted over Greece's bail-out programme. (Noon): London's leading shares fell in Tuesday morning trading as fears persisted over Greece's bail-out programme.
By mid-morning, the FTSE 100 was down 43.8 points or 0.66% at 6,589.71. By lunchtime, the FTSE 100 was down 61.92 points or 0.93% at 6,571.59.
Energy stocks were the biggest losers as the price of Brent crude oil continued to decline, falling a further 1.2% to $57.16 a barrel. Energy stocks were the biggest losers as the price of Brent crude oil continued to decline, down 0.5% on the day at $57.62 a barrel.
Royal Dutch Shell "A" and "B" shares were down 2.2% and 2% respectively. Royal Dutch Shell "A" and "B" shares were down 2.7% and 2.4% respectively.
Tullow Oil shed 2.1% and BG Group fell 2%. BG Group fell 2.7% and Tullow Oil shed 2.3%.
Bucking the downward trend, fashion chain Next saw its shares rise more than 4% after it said it expected yearly profits to recover some of the ground lost after a warm spell in the third quarter. Bucking the downward trend, fashion chain Next saw its shares rise more than 3% after it said it expected yearly profits to recover some of the ground lost after a warm spell in the third quarter.
On the currency markets, the pound rose 0.12% against the dollar to $1.5535 and was little moved against the euro at €1.2767. On the currency markets, the pound rose 0.14% against the dollar to $1.5539 and gained 0.13% against the euro to €1.2786.