Britain's FTSE hit by commodity reversal

* FTSE 100 down 0.4 pct

* Estate agents slump on fee clampdown plans

* Housebuilders, utilities choppy after Autumn Statement

* Thomas Cook (Frankfurt: A0MR3W - news) rises to highest since May (ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)

By Alistair Smout

LONDON, Nov 23 (Reuters) - Britain's top share index fell on Wednesday, hit by a reversal in mining and energy stocks as Wall Street snapped its recent runs of record highs and a rally in commodities ended.

The session was choppy, with individual sectors swinging as finance minister Philip Hammond outlined his policies in what was the biggest economic update since Britain voted in June to leave the European Union.

The FTSE 100 index was down 0.4 percent by 1511 GMT, with miners, the top gainers in early deals, among the biggest fallers.

Copper prices retreated as a rally on hopes that President-elect Donald Trump will boost infrastructure spending ground to a halt. Wall Street broke a recent run of records, dampened by pressure on its healthcare stocks.

Other growth-sensitive stocks skidded. Housebuilders, which initially benefited from government plans to boost infrastructure spending, turned lower.

Analysts said that the gain was not sustained as the extra funding was anticipated. There was also a lack of detail about how the new housing would be delivered, and the sector was also caught in the poor global market sentiment.

Estate agents Foxtons and Countrywide tumbled 14 and 6 percent respectively on a government plan to ban one-off tenant fees.

Centrica (Frankfurt: A0DK6K - news) and SSE (LSE: SSE.L - news) were also volatile after the so-called Autumn Statement, rising sharply as Hammond said that a carbon price support scheme would be capped until 2020.

Both stocks gave up most gains, and Hammond said he was looking into whether pricing practices were fair in the sector. However, he unveiled no new regulations.

"Given a number of the utility stocks - most notably Centrica and SSE (Amsterdam: UW8.AS - news) - were discounting some risk of adverse policy changes, especially with respect to carbon pricing and retail energy policy, we consider the Autumn Statement to be 'no news is good news' for now," analysts at Barclays (LSE: BARC.L - news) said in a note.

Elsewhere in the sector, United Utilities (LSE: UU.L - news) rallied on the back of its results after it posted slightly higher first-half profit, helped by new pricing regulations and lower spending on infrastructure improvements.

It rose 0.5 percent, off highs, as did sector peer Severn Trent (BSE: 500251.BO - news) , which reports results on Thursday.

Among mid caps, Thomas Cook rose 7.6 percent after it posted profits slightly ahead of expectations.

It rose to its highest level since May, when it cautioned that security concerns were dampening summer demand - an update which sent shares down 19 percent.

"It was a tough year for the tourist industry, with instability in Turkey and a spate of terror attacks taking their toll," said Russ Mould, investment director at AJ Bell.

"But Thomas Cook's swift action to shift its holiday programme into the Western Mediterranean and long haul, together with the benefits of a stronger euro, helped it to maintain revenue, and bookings for next summer in its key markets are encouraging."

Online trading firm CMC Markets (LSE: CMCX.L - news) dropped 4.5 percent after it reported a fall in net operating income in its first half results. (Reporting by Alistair Smout; Editing by Mark Heinrich)