Shell profit warning wipes 6.5 billion pounds off of UK's FTSE.

Reuters: “Britain’s top share index underperformed major regional peers on Friday, knocked back by a dramatic fall in Shell, its most heavily weighted stock, after the oil major delivered a profit warning.”
“Royal Dutch Shell saw its listings fall 3.1 percent and 2.8 percent respectively after it warned that its fourth-quarter figures are expected to be significantly lower than recent levels of profitability because of oil and gas prices and problems with its refining business.
“It’s not good. When you’re talking about higher costs and lower production volumes, it’s a lethal combination,” Nick Xanders, who heads up European equity strategy at BTIG, said.
“It’s symptomatic of the entire market, with costs rising but revenues not coming through. Some hope that it’s a company specific thing, but I don’t think it is.”
At its peak fall, the drop knocked around 6.5 billion pounds off Shell’s market capitalisation, while the broader energy sector wiped 26 points off the FTSE 100, enough to erase any gains on the market.”