FTSE 100 poised to snap win streak; banks fall

LONDON (MarketWatch) � Most U.K. stocks were lower on Wednesday, setting London�s benchmark index up to break a three-day winning streak, as banks and oil firms moved lower.

The FTSE 100 index UK:UKX �lost 0.4% to 6,315.08, shaving off part of a 1% gain from Tuesday.

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Shares of Tullow Oil PLC UK:TLW �jumped 4.4%, after the oil-exploration company provided better-than-expected test results from some of its Kenya wells.

The company also reported a drop in 2012 net profit but kept its dividend unchanged and said it has a strong platform for growth. See: Tullow Oil: Profit falls 4%, maintaining dividend

Also in the oil industry, shares of Petrofac Ltd. UK:PFC �rose 4%, as UBS lifted the oil-services firm to buy from neutral.

Other oil firms headed south. BP PLC UK:BP �BP � was 0.5% lower and Royal Dutch Shell PLC UK:RDSB �fell 0.3%.

Mining firms were on the rise, as most metals prices moved higher. Shares of Rio Tinto PLC UK:RIO �RIO �AU:RIO �gained 1.5%, BHP Billiton PLC UK:BLT � BHP �AU:BHP �picked up 1.3% and Anglo American PLC UK:AAL �put on 0.9%.

Reuters Tullow Oil advances on Wednesday after saying it sees strong growth.

Also higher in London, shares of Reckitt Benckiser Group PLC UK:RB �rose 0.9%. The consumer-products firm said it will grow its health-and-hygiene business faster than expected. And it proposed to lift its dividend 11%. See: Reckitt focuses on health, hygiene as profit rises

On a downbeat note, shares of cruise-line operator Carnival PLC UK:CCL � CCL �lost 0.9%. The company said Tuesday that one of its ships carrying 4,200 travelers remained adrift in the Gulf of Mexico after a fire but was waiting to be towed to a port on Alabama. See: Disabled Carnival cruise ship in third day adrift

Banks were also on decline, following a solid session on Tuesday, when upbeat earnings from Barclays PLC UK:BARC �BCS � sent the sector higher.

Barclays shares dropped 0.5% on Wednesday, while Royal Bank of Scotland Group PLC UK:RBS �RBS �fell 1.6% and Lloyds Banking Group PLC UK:LLOY �LYG �gave up 1.4%.