London Markets: FTSE 100 slumps more than 1%, with oil shares in the red

U.K. stocks dropped Monday, with the week starting off with energy shares under pressure as oil producers gather for industry talks this week.

The FTSE 100 index UKX, -1.16% fell 1.2% to 6,828.80. The index on Friday ended down less than 0.1%. But it ended last week higher by 3%, the biggest weekly advance since the week ended July 1.

Oil shares across Europe SXEP, -1.68% were in the red Monday, as both members in and outside of the Organization of the Petroleum Exporting Countries were meeting this week in Algiers at the International Energy Forum.

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