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Slumping Inmarsat sends Britain's FTSE to one-month low

(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report for more details)

* FTSE 100 down 0.5 pct

* Inmarsat (Other OTC: IMASF - news) falls for second day

* Mid-caps Interserve (LSE: IRV.L - news) and Man Group (LSE: EMG.L - news) slump

* Dollar strong ahead of jobs data, hitting copper miners

By Alistair Smout

LONDON, May 6 (Reuters) - Britain's top share index fell on Friday, dropping to a one-month low as satellite firm Inmarsat (LSE: ISAT.L - news) extended hefty losses after an outlook cut and weak results in the previous session.

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The FTSE 100 dropped 0.5 percent to 6,088.98, hitting its lowest since April 5 in early trade. The index is down 2.4 percent this month.

Inmarsat fell 6.4 percent to its lowest level in over a year, taking declines over the last two sessions to over 13 percent.

HSBC, Barclays (LSE: BARC.L - news) , Berenberg and Natixis (LSE: 0IHK.L - news) all cut their price targets on the stock.

Analysts at Barclays said that the firm was being hindered by volatile demand and ramping up for a new product. "Even (Taiwan OTC: 6436.TWO - news) after the stock price correction we consider that the valuation does capture the different downside risks," they said in a note.

InterContinental Hotels Group fell 0.9 percent, trading around two-month lows, hit by a drop in revenues per room in its results.

The mid-cap FTSE 250 also saw stand-out fallers. Interserve slumped 25 percent, set for its worst day since 2002, after taking a first-half charge of 70 million pounds.

Hedge fund firm Man Group dropped 7.3 percent after a double downgrade to "sell" from Citi.

Miners were broadly lower, with copper set for its largest weekly loss in 15 months on worries over China's economy and a stronger dollar.

Traders were anticipating strength in flagship U.S (Other OTC: UBGXF - news) . jobs data. That underpinned the dollar, making metals more expensive for holders of other currencies.

Precious metals miners proved an exception, with Randgold and Fresnillo (Other OTC: FNLPF - news) up 2.6 percent and 1.1 percent respectively, as gold steadied following recent falls.

ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development). In a real-time, multimedia format from 0600 London time through the 1630 closing bell, it will include the best of our market reporting, Stocks Buzz service, Eikon graphics, Reuters pictures, eye-catching research and market zeitgeist. Breaking news and dramatic market moves will continue to be alerted to all clients and we will continue to provide a short opening story and comprehensive closing reports.

If you have any thoughts, suggestions or feedback on this, please email mike.dolan@thomsonreuters.com.

Mike Dolan, Markets Editor EMEA. (Reporting by Alistair Smout; editing by John Stonestreet)