FTSE 100 lower as markets wait for US Fed move
- 14 December 2015
- From the section Business
(Close): London's index of leading shares closed lower on Monday with investors set to remain cautious ahead of an expected US rate rise this week.
The FTSE 100 closed down 78.72 points at 5874.06, the eighth session in a row that it has fallen.
Shares in Rolls-Royce slipped 2.6% after the FT reported nationalising its nuclear submarine business was being considered by the government.
Rolls-Royce has issued five profit warnings in less than two years.
Oil prices continued to fall, as worries over a global glut in supplies continued. Brent crude's spot price dropped at one point to a new $1.29, or 3.4%, to a new seven-year low below $37 a barrel, before settling at $37.87.
Energy stocks were mainly lower, including those of Shell and BG, after questions were raised by an institutional investor about merger plans with the current oil price so low. Later Shell said it would cut more deeply than it originally planned - another 3% of the workforce - should it merge.
Firms with exposure to South Africa rebounded slightly, following news of another new finance minister.
On Sunday, it was announced that David van Rooyen was being replaced with the more experienced Pravin Gordhan.
Among those with interests in South Africa, shares in financial services firm Old Mutual were up 1.3% after an earlier 7% rise.