Weaker commodities stocks push FTSE to 8-week 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 0.6 percent

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

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

By Atul Prakash and Alistair Smout

LONDON, May 6 (Reuters) - Britain's top share index dropped to an eight-week low on Friday, with satellite firm Inmarsat (LSE: ISAT.L - news) slipping on a raft of broker downgrades and commodities-related stocks tracking a decline in metals and crude oil prices.

Inmarsat fell 6 percent after slumping 7.2 percent in the previous session when the company cut its revenue guidance, with HSBC, Barclays (LSE: BARC.L - news) , Berenberg and Natixis (LSE: 0IHK.L - news) all cutting their price targets on the stock.

"It (Other OTC: ITGL - news) would appear that yesterday's scrapping of revenue guidance that had only recently been given is continuing to send a bad signal to investors," Mike van Dulken, head of research at Accendo Markets, said.

"Capitulation is never a good sign, suggesting trading conditions in key segments deteriorating at light speed, faster than even an optimistic management can put a positive spin on."

The UK mining index fell 1.2 percent, dragged down by a 2.2 to 5.4 percent decline in Anglo American (LSE: AAL.L - news) , Glencore (Xetra: A1JAGV - news) and Rio Tinto (LSE: RIO.L - news) , as copper headed for its biggest weekly loss since early 2015 on worries over China's economy and a stronger dollar.

However, precious metals miners proved an exception, with Randgold and Fresnillo (Other OTC: FNLPF - news) rising 5 percent and 4.5 percent respectively as gold prices gained following recent falls.

The blue-chip FTSE 100 index was down 0.6 percent after hitting its lowest level since early March. The index is down around 3 percent this week, the biggest weekly drop since early February.

Banks also lost ground, with the sector index slipping 1.2 percent. HSBC dropped more than 2 percent, with some investors saying that concerns about a cut in its dividend and general economic conditions put pressure on the stock.

"There is a risk that the dividend will be cut and if that happens, it could have a further negative impact on its share price as the risk is only partially priced in," said Minal Shah, financials analyst at Charles Stanley (LSE: CAY.L - news) .

"The sector is sensitive to the global economic outlook, which has deteriorated. It will take a sustained upturn in economic growth and interest rate expectations to see a banking sector rally, but neither of these appear likely in the near future."

The UK oil and gas index was also down 1.2 percent after crude oil prices slipped.

The mid-cap FTSE 250 also saw stand-out fallers. Interserve slumped 18 percent, set for its worst day since 2002, after taking a first-half charge of 70 million pounds.

Hedge fund firm Man Group dropped 9 percent after a double downgrade to "sell" from Citi.

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Mike Dolan, Markets Editor EMEA. (Editing by Robin Pomeroy)