BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks tumbled on Monday even as soaring oil prices pushed energy stocks higher.
The British pound held around $1.31 as investors awaited a parliamentary debate on Brexit legislation.
The benchmark FTSE 100 was down 78 points, or 1.03 percent, at 7,544 as tensions between the United States and Iran escalated further following the killing of a top Iranian general.
Oil major BP Plc jumped 2 percent and Royal Dutch Shell advanced 1.3 percent as oil extended its dramatic surge above US$70 a barrel.
British Airways owner IAG fell nearly 4 percent and easyJet tumbled 3.2 percent as a result of the sharp rise in oil prices.
Wizz Air Holdings Plc, the largest low-cost airline in Central and Eastern Europe, gave up 2.8 percent after reporting its passenger traffic figures for December.
Grocer Morrisons lost 3.5 percent and Sainsbury declined 1.8 percent after a Times report said British supermarkets will report 'underwhelming' Christmas sales.
Food and support services company Compass Group dropped 1.1 percent. The company announced that Paul Walsh, Chairman, has indicated his intention to step down as Chairman and Director of the company to focus on his other business interests.
In economic releases, the U.K. private sector contracted in December but at a slightly slower-than-initially estimated rate, final data from IHS Markit showed.
The final IHS Markit/Chartered Institute of Procurement & Supply composite output index held steady at 49.3 in December. The latest reading was the joint-lowest since July 2016.
The services Purchasing Managers' Index improved to the neutral 50.0 from 49.3 a month ago. The flash reading was 49.0.
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