Britain's FTSE falls as EM-exposed stocks weigh

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* FTSE 100 down 1.3 pct

* StanChart (HKSE: 2888-OL.HK - news) , Mondi (Frankfurt: KYC.F - news) fall

* Gold (Other OTC: GDCWF - news) miners also decline

* SIG (Frankfurt: 888153 - news) tanks among mid caps

By Kit Rees

LONDON, Nov 11 (Reuters) - Britain's top share index fell on Friday as a sell-off in emerging markets hit shares of countries exposed to those regions as investors digested the implications of Donald Trump's presidential win in the United States.

The blue chip FTSE 100 index dropped 1.3 percent to 6,738.13 points by 1034 GMT, falling for the second session in a row and underperforming the broader European market, weighed down by a rise in sterling.

A sell-off in emerging markets hit shares of firms such as Standard Chartered (HKSE: 2888.HK - news) and South Africa-facing paper and packing firm Mondi, which dropped 4.9 percent and 5.8 percent respectively and were among the top fallers.

A surprise win for Republican Donald Trump on Wednesday rocked emerging markets, which continued their sell-off on Friday on worries that the President-elect could introduce protectionist policies relating to trade.

A broader reflationary trade on expectations that Trump will increase spending on infrastructure also hurt emerging market-exposed equities.

"People are worried about a ramp-up in developed market yields drawing out the oxygen from emerging markets, which have, in the last many years, been higher-yielding than the developed markets," said Ken Odeluga, market analyst at City Index.

"If there's no reason to actually keep your money there because yields are rising in the developed world, particularly in the U.S., then that is a negative."

Precious metals miners Fresnillo (Frankfurt: A0MVZE - news) and Randgold Resources likewise extended their slump from the previous session, both down around 4.5 percent.

That followed a retreat in the price of gold after Richmond Fed President Jeffrey Lacker said on Thursday that the Federal Reserve could raise interest rates more quickly if Washington uses lower taxes or higher spending to boost economic growth.

Outside of the blue chips, building materials supplier SIG (Stuttgart: QIG.SG - news) plummeted more than 20 percent and weighed on the UK FTSE 250 index, which declined 0.9 percent.

SIG issued a profit warning, citing softer trading after the Britain's vote to leave the European Union, and added that its CEO was to leave the company.

"In the face of such uncertainty, we can no longer recommend that investors buy the shares. With (Other OTC: WWTH - news) such a large cut to estimates, we expect short-term share price weakness," analysts at Jefferies said in a note.

(Editing by Catherine Evans)