Shell pegs back FTSE after profits warning

Shares in oil giant Royal Dutch Shell have dragged on the FTSE 100 today, after the company issued a profits warning for Q4 this morning.

Shell warned investors its fourth quarter 2013 figures, due on 30 January, will be "significantly lower than recent levels of profitability". The bleak statement pushed Shell's shares - which account for 7.5% of the FTSE 100 index - down 3.5% this morning a to a low of £21.15 per share. By mid afternoon they were off 2% at £22.59. Shell said it expects profits for the quarter to be about $2.2bn (£1.3bn), compared to the $4bn analysts had expected, while profits for 2013 as a whole should come in at $16.8bn. That is down from profits of $27.2bn recorded in 2012. As the oil giant's s...