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FTSE declines after oil shares fall

FTSE declines after oil shares fall
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The FTSE 100 stock market fell during the morning trading session today, despite gains by a number of banks and mining companies.

According to Reuters, the index was down 0.3 per cent at 11:39 GMT, taking it to 5,067.16 points.

Large gains were recorded by some firms in the financial sector, with Royal Bank of Scotland becoming the top performer in the morning session with an 11 per cent leap.

Lloyds Banking Group added 8.6 per cent following the announcement that it is considering a rights issue, while a number of mining stocks were also in demand.

However, any gains on the FTSE were offset by slides in energy shares, prompted by the release of disappointing quarterly results by Royal Dutch Shell.

The firm shed 4.4 per cent, while a number of its counterparts - including BG Group and Cairn Energy - also declined.

Joshua Raymond explained that investors had been awaiting the release of US economic figures, which have revealed the country's economy grew during the last quarter.ADNFCR-1681-ID-19433659-ADNFCR