UK stocks were flat on Tuesday as a sharp fall of Standard Chattered was offset by stronger than expected earnings of other companies. Moreover, an increase in the UK retail sales in July provided support for UK equities. FTSE 100 eased down 0.06% to trade at 5,805.46 at the time of writing. On the upside were basic materials and oil and gas companies. Xstrata gained 2.03% after reporting better than expected earnings for Q2. Meanwhile, Tullow Oil and BP rose 0.13% and 2.23%. At the same time, financial and industrial equities moved down. Standard Chattered dragged banks lower. The company plunged 23.47% after it was accused of violating US money laundering laws in relation to its business with Iran's banks. Standard Chartered may be forced to suspend its operations. After the news, Barclays and Lloyds Banking Group slid 0.68% and 0.48%.