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London Markets: FTSE 100 ends lower after downgrade, oil slump

U.K. stocks fell Monday, with lower oil prices and a ratings downgrade from J.P. Morgan weighing on investor sentiment.

The FTSE 100 index UKX, -0.49% dropped 0.5% to close at 6,986.40, with only the financial group holding to a modest gain.

The index had started the week on stronger footing by rising as much as 0.7%, but that gain was eventually whittled down.

“An impressive set of [purchasing managers index] survey readings out of the eurozone has ensured that mainland European markets are outperforming their U.K. counterparts,” said Joshua Mahony, a market analyst at IG, in a note.

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