Britannia

Net quarterly losses were reported by ConocoPhillips, in its first financial report since completing its merger, and Amerada Hess last Thursday, putting downward pressure on major oil shares. Hess shares fell more than 11% to $58.54 by mid afternoon, while ConocoPhillips shares were down only about 2% to $47.20 because the charges were expected and its results from continuing operations were in line with Wall Street forecasts.