MADRID (MarketWatch) — Stocks drifted lower in London on Tuesday, with energy majors such as Tullow Oil PLC and BG Group PLC leading the way, as investors paused for breath in the wake of news of a bailout agreement for Greece. The FTSE 100 index UK:UKX -0.29% fell 0.2% to 5,932.54, following a 0.7% close higher the following session, which marked the second consecutive gain. London’s main index was tracking a downward path seen across European markets, which were pulling back after days of gains linked to optimism ahead of Greek deal talks. After marathon talks, European finance ministers early Tuesday agreed on the terms of a new aid package for Greece, while a deal was also agreed with private debt holders. Read more on the deal Energy stocks were among the main movers in London. Shares of Tullow Oil PLC UK:TLW -4.06% fell 3.8%. Tullow updated on a well on Tuesday, saying it had found the presence of hydrocarbons in its Jupiter well offshore Sierra Leone. Analysts at Davy Research said the well is likely to deliver less than they expected, though they affirmed their share-price target of 1,549 pence on the group. Tullow shares last changed hands at 1,538 pence. Also down: Essar Energy PLC UK:ESSR -1.72% dropped 1.8% and Cairn Energy PLC UK:CNE -2.09% fell 1.4%. BG Group UK:BG -1.19% shares fell 1.2%. Energy companies were also in focus as crude-oil prices hovered above $105 a barrel, after Monday’s news that Iran was halting oil exports to the U.K. and France. The International Energy Agency said later in the day that the European Union was ready for any cutoff of Iranian supplies. Mining stocks continued to march ahead as precious- and base-metals prices stayed firm, with Vedanta Resources PLC UK:VED +4.35% up 3.2%, Kazakhmys PLC UK:KAZ +0.96% up 1.1%, Anglo American PLC UK:AAL +0.61% adding 1% and Rio Tinto PLC UK:RIO +0.58% RIO +0.04% ahead by 0.8%. Also among the gainers in London, shares of Admiral Group PLC UK:ADM +2.61% rose 3.5% and ICAP PLC UK:IAP +1.98% rose 1.6%.

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