London Markets: FTSE 100 slips on RBS, Lloyds downgrades, but miners rise

U.K. stocks were searching for firm direction Monday, with the FTSE 100 hovering around its highest level in two weeks, ahead of a reading on activity in the U.K. services sector.

The FTSE 100 UKX, -0.21% was off less than 1 point at 6,894.45. Financial and consumer-related shares fell, while commodity, utility and industrial shares gained ground.

The gainers included Marks & Spencer PLC MKS, -0.37% .Its shares rose 0.4% after Sky News reported at the weekend that the department-store chain is planning to cut 500 jobs at its head office in London.

Among other movers, iron ore miner BHP Billiton PLC BLT, +1.51%BHP, +1.29%BHP, +2.47% added 1.8% and Royal Bank of Scotland RBS, -2.79%RBS, +1.87% lost 3%.

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