June 18 (Bloomberg) -- U.K. stocks swung between gains and losses as a sell-off in oil companies and HSBC Plc, Europe’s biggest bank, overshadowed a rally in Xstrata Plc.

The benchmark FTSE 100 Index lost 1.88, or less than 0.1 percent, to 4,276.58 at 9.05 a.m. in London having climbed as much as 0.3 percent earlier.

To contact the reporter on this story: Adria Cimino in Paris at acimino1@bloomberg.net; Sarah Jones in London at sjones35@bloomberg.net.

Last Updated: June 18, 2009 04:08 EDT