* Miners fall; metal prices slide on China data
* Banks, oils fade following recent gains; OPEC meeting eyed
* General retailers rise; Home Retail results impress
By David Brett
LONDON, March 11 (Reuters) - Britain's leading share index
fell 0.4 percent by midday on Thursday as heavy falls in miners,
weighed by fears of monetary tightening in China, outpaced gains
in general retailers and some defensives.
At 1203 GMT, the FTSE 100 <> was down 23.20 points at
5,617.37, having closed 0.7 percent higher on Wednesday, a
20-month peak.
Chinese consumer inflation rose more than expected in the
year to February, while factory output and retail sales data for
the first two months showed the economy started 2010 with a
strong head of steam. []
"The fear with Chinese growth is that they may have kept the
oven cooking for a little too long and it may be time soon to
switch it off with future rate hikes before inflation burns out
of control," said Nick Serff, market analyst at City Index.
"The limited news this week is giving this fear greater
impetus."
Miners were the heaviest fallers, dragged down as raw
material prices retreated on fears that monetary tightening in
China could hit future demand.
Fresnillo <FRES.L>, Xstrata <XTA.L>, Lonmin <LMI.L>,
Randgold Resources <RRS.L> and Rio Tinto <RIO.L> were among the
worst performers, down 1.6 to 2.4 percent.
But Antofagasta <ANTO.L> bucked the trend, up 1.2 percent,
helped by upgrades from Goldman Sachs and Deutsche Bank.
Energy issues pared some recent gains as oil <CLc1>
stagnated around $82 a barrel ahead of OPEC's March 17 meeting
with expectations that OPEC countries will pump above quotas in
the second quarter, and with the Chinese economic data weighing.
[]
Oil majors BG Group <BG.L>, Royal Dutch Shell <RDSa.L>, and
BP <BP.L> shed 0.1 to 0.5 percent.
Oil explorer Tullow Oil <TLW.L> fell 1.3 percent, extending
the previous session's losses, which came on the back of its
2009 results.
Banks were also the subject of some profit taking.
HSBC <.HSBA.L>, Standard Chartered <STAN.L> and Barclays
<BARC.L> fell 1 to 1.5 percent.
DRUGMAKERS FALL
Drugmakers continued their recent seesaw ride.
GlaxoSmithKline <GSK.L>, Shire <SHP.L> and AstraZeneca <AZN.L>
dipped 0.2 to 0.5 percent, having been gainers on Wednesday.
Smith & Nephew <SN.L> shed 2.4 percent as the loss of a
wound care products patent case in the U.S. dented sentiment in
the British medical devices group.
Wm Morrison Supermarkets <MRW.L> fell 1.8 percent and life
insurer Old Mutual <OML.L> fell 2.9 percent after reporting
their respective results. []&[]
On the upside, Home Retail <HOME.L>, Britain's biggest
household goods retailer, rose 2 percent as it nudged up its
year profit guidance for the second time in three months.
[]
Other general retailers rallied too, with Next <NXT.L>,
Marks & Spencer <MKS.L>, and Kingfisher <KGF.L> up 1.7 to 2.8
percent. []
Travel firm Thomas Cook <TCG.L> gained 2 percent as brokers
returned in a positive mood following an Investor Day.
Oil services firm Petrofac <PFC.L> climbed 3 percent,
topping the risers list and extending recent gains, after
positive broker comment followed upbeat results on Monday.
Investor interest was also on some defensive issues, which
are perceived to be safer bets when the market falls.
British American Tobacco <BATS.L> and Imperial Tobacco
<IMT.L> rose 0.4 and 0.8 percent respectively, while mobile
communications giant Vodafone <VOD.L> added 0.6 percent.
(Editing by Hans Peters)
