The FTSE 100 index moved lower on Monday, as shares in Vodafone Group PLC and mining stocks added pressure, while Unilever PLC's shares moved higher after a broker upgrade. The FTSE 100 index UKX lost 0.3% to 5,898.80, coming off a six-month high reached last Friday. The U.K. benchmark index closed out the week with a 2.1% gain as new stimulus measures from the U.S. boosted risk-on trade. Vodafone VOD VOD weighed the most on the index on Monday, off 1.1%, after Bloomberg News said the wireless telecom firm may need to make a provision to cover a $2.2 billion tax bill in India and that the decision will be made by November. A representative from Vodafone confirmed the report. BT Group PLC BT.A fell 2.1% as Exane BNP Paribas cut the stock to neutral from outperform. Royal Bank of Scotland Group PLC RBS RBS gave up 1.5% as Investec Securities cut the stock to sell from hold, citing “weak ‘core' profitability, and legacy bills to pay." “The [return on equity] outlook appears simply too weak to support the current valuation," Investec analyst Ian Gordon said, in a note. Heavyweight miners were also on the decline, as most metals prices were lower. Anglo American PLC AAL fell 1.3%, Rio Tinto PLC RIO RIO fell 0.9% and BHP Billiton PLC BLT BHP BHP slipped 0.5%. Pointing in the other direction, Unilever ULVRUL gained 1.1%, after UBS upgraded the stock to buy from neutral. The analysts said that “for the first time, a clearly defined food strategy is being put in place that seeks to leverage Unilever's scale ... and scope ... to drive sales and increase competitive advantage." GlaxoSmithKline PLC GSK GSK rose 1.1% as it said it submitted a regulatory application in the European Union for approval for an additional indication for its Synflorix vaccine. Marketwatch
