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high oil prices, BA suffers
Published in Saudi Press Agency on 23 - 08 - 2005

Britain's top share index sank on Thursday's, falling for the third consecutive session, as rocketing crude oil prices threatened to curb both companies and the consumer, while rising fuel costs took their toll on British Airways , adding to its catering woes, Reuters said.
Leisure firm Hilton Group was the top blue-chip faller, shedding 1.6 percent on disappointment the company had not made any detailed comment about its hotel disposal programme and concern that costs may rise at its betting division. Hilton results were in line with expectations
"They've said they're not going to restructure for the moment, which was the main thing people were looking for, hoping they were going to sell off their hotels," said a trader.
By 0725 GMT the FTSE 100 share index was down 21.5 points, or 0.4 percent at 5253.5, taking its loss in the past three sessions so far to more than 1 percent.
U.S. crude oil prices hit a new record high at $68 a barrel, depressing Wall Street after the London market close, although stock index futures pointed to a slightly higher opening for Wall Street later.
--More 1113 Local Time 0813 GMT


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