Oil prices rose; Britain’s benchmark stock index plummeted as Muammar Gaddafi “tightened his grip on Tripoli,” yet failing to exert that control over eastern Libya. The premier’s loyal security forces allegedly forced protestors out of the capital’s streets which was undergoing major chaos as close to 300 civilians have been killed according to a Human Rights Watch report which was perhaps ignited following Gaddafi’s encouragement of his supports to attack the anti-government protestors. The (Paris-based) International Energy Agency said it wasn’t going to release oil from emergency stockpiles unless it really had to since the Organization of the Petroleum Exporting Countries would adopt this role.
The FTSE 100 index of blue-chip shares dropped 0.53% (32 points) and the Mid-250 index fell 0.39% (45 points). Such unrest makes “worrying” news for equities, according to Derek Mitchell, manager of the Royal London UK Opportunities Fund. Nonetheless, the pound strengthened 0.4% against the dollar and 0.03% against the euro. IAG (airlines) plummeted; but Barclays rose 2p to £3.24. Other financial European news was in France, the CAC 40 index dropped 0.23% and Germany’s DAX index’s surge was 0.43%.
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