Financials put Britain's FTSE 100 under pressure

* FTSE 100 down 0.3 pct

* Hargreaves Lansdown (LSE: HL.L - news) falls on results

* Banks top sectoral loser

* Miners gain, track copper price (Adds detail)

By Kit Rees

LONDON, Feb 3 (Reuters) - UK shares fell on Wednesday, pulled lower by financial stocks, with Hargreaves Lansdown among top fallers following a mixed earnings update.

The British fund firm fell 3.4 percent, despite saying that first half assets under administration hit a record high on the back of strong new business inflows.

The company's half-year results, however, disappointed some investors, who said the numbers missed expectations.

"Overall this is a poor set of numbers with a miss on earnings and dividend due to lower margin and higher costs," analysts at Bernstein said in a note.

Bank of America Merrill Lynch also cut its target price on the stock.

Britain's blue-chip FTSE 100 index was down 0.3 percent at 5,903.22 points by 1350 GMT, broadly in line with the European market.

British banks were the top sectoral fallers, with Barclays (Swiss: BARC.SW - news) down 3.1 percent, while Standard Chartered (HKSE: 2888.HK - news) dropped 3.9 percent, the index's top faller, after Citigroup (NYSE: C - news) cut its target price on the stock.

The FTSE 350 Banking index fell 2.6 percent, and is down around 17.5 percent this year.

"We've seen quite a big revision of expectations where central bank policy is concerned, not just in Europe, but in the U.S (Other OTC: UBGXF - news) . as well, I think that's really hurting the sector," Chris Beauchamp, analyst at IG (LSE: IGG.L - news) , said.

He added that Britain postponing a sale of shares in Lloyds Banking Group and a further deterioration in the global economic outlook were also weighing on the sector.

Shares (Berlin: DI6.BE - news) in mobile communications company Vodafone were pulled 2.6 percent lower after KPN (Amsterdam: KPN.AS - news) , the Netherlands' largest telecommunications company, reported a worse-than-expected drop in fourth-quarter earnings.

In positive territory, however, were British mining stocks, as the price of copper advanced on improving China data showing that its services sector expanded at its fastest pace in six months in January.

Shares in Anglo American (LSE: AAL.L - news) , Rio Tinto (LSE: RIO.L - news) and Glencore (Xetra: A1JAGV - news) climbed between 0.7 percent to 2.8 percent.

(Additional reporting by Alistair Smout; Editing by Alison Williams)