The price of oil edged higher in London today after sharp gains late last week, but analysts said prices might ease once US markets reopen from the long weekend.
BP was 1.2 per cent higher and Royal Dutch added 0.8 per cent. Somerfield fell 1.8 per cent after British newspapers reported the Icelandic investment group Baugur may withdraw from a consortium considering a bid for British supermarket group.
Lufthansa fell 1 per cent after broker Merrill Lynch said it downgraded its rating on the German flag carrier to "neutral" from "buy".
Also among standout losers, UK building materials firm Travis Perkins was 6.3 per cent lower after it said trading conditions were challenging.
