FTSE falls despite energy boost

Energy stocks staged a major rally today after commodity prices rose and Royal Dutch Shell impressed with bumper second quarter profits.

The London market’s top three risers came from the sector, although it was not enough to prevent the FTSE 100 Index from falling 19.1 points at 6435.2 by mid-morning. The drop extends a troubled week for the market after two days of steep declines on the back of persistent fears over the state of America’s sub-prime mortgage market and wider economy.