Vodafone drags FTSE 100 lower after downgrade

LONDON (MarketWatch) � Most U.K. stocks traded in negative territory on Monday, with shares of Vodafone Group PLC among major decliners after a broker downgrade, while mining firms tracked metals prices lower.

The FTSE 100 index UK:UKX lost 0.3% to 6,330.21, partly erasing a 1.1% gain from Friday.

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Shares of Vodafone UK:VOD VOD ,�down 1.8%, weighed heaviest on the index, after Citigroup cut the wireless telecom firm to neutral from buy.

Mining firms were also under selling pressure, as most metals prices were on the decline. Shares of Antofagasta PLC UK:ANTO lost 2.2%, BHP Billiton PLC UK:BLT BHP AU:BHP fell 0.7% and Rio Tinto PLC UK:RIO RIO AU:RIO slipped 0.7%.

Oil firms were under pressure as oil prices declined. Shares of BP PLC UK:BP �BP fell 0.4% and Royal Dutch Shell PLC UK:RDSB RDS.B slipped 0.2%.

Reuters Shares of Vodafone drop on Monday after a broker downgrade.

Among other notable decliners in London, Johnson Matthey PLC UK:JMAT gave up 2% after Citigroup cut the chemicals firm to neutral from buy, citing competitive pressure and worries over the growth outlook.

Barclays PLC shares UK:BARC BCS fell 0.4%. The bank said its Group Finance Director Chris Lucas and group general counsel plan to retire, but agreed to stay until successors have been appointed. See: Barclays finance director Chris Lucas to retire

Outside the main index in London, shares of Stagecoach Group PLC UK:SGC dropped 1.8%, as HSBC cut the bus company to neutral from overweight.

Peer firm Go-Ahead Group PLC UK:GOG was lifted to overweight from underweight, helping send it shares 1.9% higher.