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Britain's FTSE hits one month low, StanChart falls again

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets)

* FTSE 100 down 0.4 pct

* U.S. election jitters hit stocks

* Standard Chartered (BSE: 580001.BO - news) downgraded after results

* Next (Frankfurt: 779551 - news) reassures with its update

* Brexit-backing Wetherspoon sees higher costs

By Alistair Smout

LONDON, Nov 2 (Reuters) - Britain's top share index fell to a one-month low on Wednesday, as global equities suffered from nerves over the upcoming U.S. presidential election and Standard Chartered suffered from broker downgrades.

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Britain's FTSE 100 fell 0.4 percent, dropping for a third straight session. It dropped along with European and Asian markets, as well as Wall Street, as polls showed the race for the White House tightening.

Republican Donald Trump has closed the gap on Democrat Hillary Clinton over the last week, according to some polls, spooking markets and prompting some to rethink bets of a Clinton victory.

The FTSE 100 dropped to its lowest level since September 30.

The top individual faller was Standard Chartered, which fell again after reporting results on Tuesday.

It was down 5 percent after suffering broker downgrades from Deutsche Bank (LSE: 0H7D.L - news) and Natixis (LSE: 0IHK.L - news) . Standard Chartered's third quarter results came in below expectations.

"Revenue stability is not enough ... The current share price implies even greater revenue growth," analysts at Deutsche Bank said in a note. "We think operating leverage for Standard Chartered remains challenging and see pressure on revenues in the coming years."

The drop took falls over the last two sessions to 10 percent.

Top FTSE 100 riser was Next, up 4 percent after it held its full-year profit forecast steady.

With (Other OTC: WWTH - news) substantial domestic exposure, Next has been one of the worst performing FTSE 100 stocks this year, and slumped following Britain's vote to leave the European Union.

Peel Hunt raised its rating on the clothes retailer to "buy" from "hold" after its results, saying like for like sales were negative but "not in freefall."

JD Wetherspoon, a top performer among domestically focused stocks since the Brexit referendum, slumped 6 percent and was the biggest mid-cap faller.

The pub group, whose chairman backed the "leave" campaign, warned it faces higher costs and said its European suppliers would lose out if tariffs were imposed on trade when Britain leaves the EU.

The top mid-cap riser was G4S (Copenhagen: G4S.CO - news) , up 8.3 percent after the British security group reported higher revenue growth in the third quarter helped by a stronger performance in the United States. (Reporting by Alistair Smout; Editing by Tom Heneghan)