27/11/14 Market Movements

Market News

The FTSE 100 closed down 5.75 points at 6,723.42. The biggest climber of the day was EasyJet, climbing 5.70%. The biggest faller of the day was Tullow Oil, falling 7.21%.

Oil Companies dominated the FTSE top fallers as the Crude Oil price plummeted after members of the Organisation of Petroleum Exporting Companies (OPEC) agreed to leave oil production quotas unchanged.

Whilst this news spooked Oil Companies, who fear this decision will eventually lead to supply outstripping demand; airliners such as EasyJet and International Airlines Group reacted positively on the assumption that this news will result in cheaper fuel prices.