FTSE 100 Slips As Energy Stocks Drag

U.K. stocks traded lower on Monday, with energy stocks underperforming after top exporter Saudi Arabia cut June prices for Asia.

Meanwhile, U.K. job placements declined again at the end of the year, albeit at softer rates as employers remained cautious about hiring, a survey report compiled by S&P Global showed.

Recruitment consultancies registered further decline in hiring but both permanent placements and temp billings decreased at softer rates, the KPMG/REC Report on Jobs said.

The benchmark FTSE 100 was down 22 points, or 0.3 percent, at 7,667 after falling around 0.4 percent on Friday.

BP Plc fell around 1 percent and peer Shell lost 2 percent as oil prices fell more than 1 percent on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output.

Earlier today, Shell flagged impairment charges of about $2.5 billion to $4.5 billion for the fourth quarter, mainly related to the Singapore assets.

Plus500, a fintech company, soared 6 percent after announcing that it has delivered its annual results significantly ahead of market expectations.

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