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 U.K. stocks fell Monday, with a pullback in resource shares weighing on the benchmark FTSE 100 as it hovered near 15-year highs.

The FTSE 100 shed 0.1% at 6,936.75, easing back alongside a broader downturn in European stocks as they also traded at multiyear highs. On Friday (, the FTSE 100 marked a 3.2% advance in February, during which it also hit its strongest closing level since December 1999.

The FTSE 100 on Monday was dragged lower as the energy sector lost more than 1%, and as mining stocks swung to losses.

Tullow Oil PLC had the worst performance as shares stumbled 7.8%, with speculation swirling that the fall in the oil producer’s market capitalization will cost Tullow its place on the FTSE 100.

“It looks like the 50% decline in the oil price is coming home to roost for Tullow Oil, after reporting its first loss in 15 years for 2014,” wrote Kathleen Brooks, research director, at, in a Monday note. In February, Tullow said it swung to a yearly loss of $1.55 billion and that, for the first time, it would suspend its dividend.

Brooks said Tullow may be the smallest of the blue-chip index’s five energy companies, but the roughly 60% drop in its share price since last May has weighed on the sector and the FTSE 100, whose performance over the past 12 months has experienced sharp declines. The energy sector accounts for about 15% of the FTSE 100.

Hikma Pharmaceuticals PLC was expected to take Tullow’s place in the FTSE 100, according to reports. Hikma shares rose 0.1% on Monday. A review of all FTSE indexes will run through March 6, and changes would be effective at the close on Friday, March 20, with trading to follow on March 23, FTSE said in a statement Friday.

Oil stocks remained lower Monday as oil prices spent much of the European session lower. Read more in Futures Movers. ( of oil major Royal Dutch Shell PLC fell 2.1%, BG Group PLC fell 1% and BP PLC gave up 0.3%.

Meanwhile, mining shares lost steam on Monday. They had advanced after HSBC data showed activity in China’s manufacturing sector was stronger than initially indicated. China is a major buyer of metals. Shares of Randgold Resources fell 1.5%, Anglo American PLC fell 0.7% and Fresnillo PLC lost 1.2%. Glencore PLC shares, however, held to a 0.1% gain ahead of the release of the mining firm’s annual results on Tuesday.

HSBC’s China Manufacturing Purchasing Managers’ Index rose above the level of expansion to a final reading of 50.7, up from 49.7 in January. Also over the weekend, China’s central bank cut interest rates (, a move aimed at combating a the country’s sluggish economy.

Among advancers, Intertek Group PLC rose 1.3%. The testing-services company raised its full-year dividend ( by 6.7% to 49.1 pence a share, although its full-year revenue and profit fell against a backdrop of tough conditions in the oil, gas and minerals sectors.

Barclays PLC shares rose 2.3% ahead of Tuesday’s release of the banking heavyweight’s full-year results. Royal Bank of Scotland PLC shares rose 2.8%, topping the FTSE 100.

Elsewhere, the British pound (GBPUSD) rose briefly after Markit data showed the U.K. manufacturing purchasing manager’s index in February rose to 54.1, a seventh-month high and above a FactSet- compiled projection of 53.2. But the pound eventually lost steam against the dollar, buying $1.5361 compared with $1.5436 late Friday in New York.