24 June 2005, 12:19  Leading London's shares opened lower this morning

Leading shares opened lower this morning, mirroring heavy falls by US stocks on Wall Street last night as oil prices touched 60 usd a barrel, heightening inflationary concerns, dealers said. By 08.15 am, the FTSE 100 was down 29 points at 5,086.4, while the broader indices were also under pressure. US stocks ended sharply lower last night, with the Dow posting its biggest one-day drop in more than two months, as oil's stab at 60 usd a barrel raised concerns about the drag on the economy of rising energy prices. Weaker-than-expected earnings from Fedex Corp, due in part to higher jet fuel costs, only served to stoke the market's fears. The DJIA tumbled 166.49 to close at 10,421.44, a five-week low for the benchmark index, while the Nasdaq fell 21.37 points to 2,070.66.

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