Johnson Matthey leads FTSE lower as update falls short

* Blue-chip FTSE 100 index falls 0.2 percent

* Johnson Matthey (LSE: JMAT.L - news) slips after trading update

* ARM boosted by strong Apple (NasdaqGS: AAPL - news) results

* Experian (Other OTC: EXPGF - news) rises on bullish outlook

By Atul Prakash

LONDON, Jan 28 (Reuters) - Britain's top equity index fell form a four-month high on Wednesday, with specialty chemicals firm Johnson Matthey leading the market lower after its trading update fell short of some expectations.

Energy stocks fell again, with the UK Oil and Gas index down 0.9 percent, after oil prices slipped to $49 a barrel on a stronger dollar and on an industry report showing a larger-than-expected rise in U.S. crude inventories.

Johnson Matthey, the world's largest maker of autocatalysts, fell 5.2 percent to 3,317 pence, the top decliner in the FTSE 100 index, after its one percent gain in third-quarter earnings failed to cheer investors.

"If anything the result and guidance is a little disappointing because strong U.S. truck order data and a sequential improvement in FX effects had prompted some near term optimism going into the results," Liberum said in a note.

JP Morgan cut its price target for the stock to 3,800 pence from 3,850 pence, while Credit Suisse (NYSE: CS - news) said the underlying profit before tax for the third quarter was below its estimates.

The blue-chip FTSE 100 index, which climbed to its highest level since mid-September on Tuesday, was down 0.2 percent at 6,799.98 points by 1212 GMT.

"I can't buy enthusiastically at these levels, with worries over the Greek economy still an issue, but I am cautiously optimistic," said Berkeley Futures' associate director Richard Griffiths.

New Greek Prime Minister Alexis Tsipras named a cabinet of anti-austerity veterans and halted privatisation of Greece's biggest port on Tuesday, signalling he aims to stick to election pledges despite warning shots from the euro zone and financial markets.

However, losses were capped by some strong performers. Data company Experian advanced 3.3 percent, making it the best-performing FTSE 100 stock in percentage terms, after the company issued an upbeat outlook at an investor seminar and pledged to grow its dividend.

Technology group ARM rose 1.7 percent, boosted by Apple's record profits. ARM, whose chip designs are used in nearly all of the world's mobile phones, was lifted after Apple's quarterly results smashed Wall Street expectations with record sales of big-screen iPhones in the holiday shopping season.

Mining stocks were also in demand, with the sector index up 0.5 percent. The sector was helped by a recovery in the price of copper, while Anglo American (LSE: AAL.L - news) advanced 1.8 percent as it posted annual production ahead of its guidance, even though it also warned of impairment charges for its 2014 financial year. (Additional reporting by Sudip Kar-Gupta, Editing by Louise Heavens)