Miners Drag Down U.K. Stocks; Banks Post Best Month in Six Years

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Slides in miners and energy producers dragged down U.K. stocks, which erased earlier gains to trim a third monthly advance.

BHP Billiton Ltd., Anglo American Plc and Fresnillo Plc lost more than 4.6 percent, while Royal Dutch Shell Plc dropped 2.1 percent, extending a decline as oil fell after data showed that U.S. crude stockpiles increased. Housebuilder Berkeley Group Holdings Plc added 3 percent after a report that U.K. home prices rose the most in five months in August. Barclays Plc and Standard Chartered Plc climbed more than 1.5 percent, sending a gauge tracking lenders to a 12 percent monthly jump -- the biggest since 2010.

The FTSE 100 Index fell 0.6 percent at the close of trading, reversing a gain of as much as 0.2 percent and trimming its August advance to 0.9 percent. The FTSE 250 Index of mid-cap shares and FTSE Small Capitalisation Index Ex Investment Trusts also climbed in this month.

In a release after the market close, FTSE Russell said Berkeley will be excluded from the FTSE 100 Index and replaced by Polymetal International Plc. The housebuilder will be added to the FTSE 250. The changes will be effective on Sept. 19.