LONDON MARKETS: FTSE 100 Falls From Five-month High

By Sara Sjolin, MarketWatch

Sky climbs after profit doubles

LONDON (MarketWatch) -- The U.K.'s benchmark stock index dropped from a five-month high on Wednesday, with oil companies adding pressure on the back of a slide in crude prices.

The FTSE 100 index slipped 0.1% to 6,862.10, on track to break a two-day winning streak. On Tuesday, it closed at the highest level since early September 2014, boosted by a 7% rally in oil prices and eased jitters over Greece.

On Wednesday, oil futures retreated and pulled the U.K.-listed oil majors down with them. Shares of Tullow Oil PLC lost 2.4%, BP PLC (BP) dropped 1.5%, and Royal Dutch Shell PLC (RDSB) shaved off 0.8%.

Mining firms also declined, as metals traded mixed. Anglo American PLC fell 1.7%, BHP Billiton PLC (BHP) lost 1.7%, Rio Tinto PLC (RIO) gave up 1.5%, and Antofagasta PLC dropped 1%.

Shares of Hargreaves Lansdown PLC slumped 5.1% after the asset manager said the impact from lower interest rates likely will hit revenue growth in 2015.

On a more upbeat note, shares of Sky PLC climbed 2%. The satellite broadcaster said profit more than doubled in the first half of the fiscal year.

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