By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- The U.K.'s benchmark stock index ended
slightly lower on Tuesday, as shares of Tullow Oil PLC sank after a
disappointing well update from the oil company.
The FTSE 100 index closed down 0.04% at 5,869.04.
Shares of Tullow Oil tanked 5.8%, after the oil explorer said
its Zaedyus-2 appraisal well offshore French Guiana didn't find
commercial hydrocarbons.
Other oil firms were also lower, tracking oil prices south.
Shares of BP PLC (BP) fell 1.4% and those of Royal Dutch Shell
PLC (RDSB) slipped 0.3%.
In the mining sector, shares of Rio Tinto PLC rose 0.3% to 31.31
pounds ($50.43), after Credit Suisse added the stock to its Europe
focus list, saying it is best positioned to capitalize on China's
growth momentum in the first half of 2013. The analysts further
lifted Rio Tinto's target price to £37 from £35.
Most other miners, however, were on the decline as most metals
headed south. Precious-metals miners were hit especially hard, as
gold futures fell sharply.
Shares of Fresnillo PLC dropped 1.6%, Randgold Resources Ltd.
lost 2.8%, while Polymetal International PLC fell 1%.
Sector heavyweight BHP Billiton PLC (BHP) fell 0.7%.
Xstrata PLC shares fell 0.8%. The mining firm said its Chief
Financial Officer Trevor Reid had decided not to continue in the
CFO role at Glencore Xstrata PLC after completion of the merger.
Shares of Glencore International PLC inched 0.6% lower.
Shares of Wm Morrison Supermarkets PLC dropped 0.7%, as data
showed the food retailer's U.K. market share for the 12 weeks to
Nov. 25 fell to 11.7% from 12.3% in the year-ago period.
Banks, however, provided support in London. Royal Bank of
Scotland Group PLC (RBS) gained 1.1% and Lloyds Banking Group PLC
(LYG) added 0.5%.
Shares of Amec PLC climbed 0.4%, as the oil-services firm was
awarded a $528 million new refinery contract by the Kuwait National
Petroleum Company.
British American Tobacco PLC (BTI) rose 1%.
Subscribe to WSJ: http://online.wsj.com?mod=djnwires