February 22, 2018 / 5:13 PM / 10 months ago

UPDATE 1-Earnings and ex-divs blight Britain's FTSE; Barclays a bright spot

* FTSE 100 ends down 0.4 pct

* Anglo American, BAT results disappoint

* Ex-divs also weigh

* Though Barclays, Centrica offer relief

* Moneysupermarket.com plummets after update (Adds closing prices)

By Kit Rees

LONDON, Feb 22 (Reuters) - Disappointing results, big stocks going ex-dividend and concerns over rising bond yields hit Britain’s top share index on Thursday, pulling it to a one-week low.

Britain’s blue chip FTSE 100 index fell 0.4 percent to 7,252.39 points, while mid caps fell 0.3 percent.

Shares in British American Tobacco fell 2.1 percent after the cigarette maker reported weaker-than-expected sales growth for 2017.

Miner Anglo American edged up 0.2 percent following its full year update. The miner, whose shares have gained 16 percent in 2018 ahead of the announcement, reported a 45 percent increase in annual earnings and halved its net debt.

Elsewhere mid cap Moneysupermarket.com plummeted 13.7 percent after its guidance disappointed investors, with the firm pointing to costs around a new strategy.

Stocks trading ex-dividend also weighed, with Imperial Brands, Diageo and GlaxoSmithKline all falling.

More broadly, concerns over rising bond yields and inflation continued to plague equity markets, after the minutes from the U.S. Federal Reserve’s latest meeting showed more confidence in the need to keep raising interest rates.

This sent the benchmark 10-year U.S. Treasury yield to a four-year high and the dollar also gained, which in turn hit greenback-denominated metals prices.

“Thanks to global growth, the expected impact of the U.S. tax bill and supportive financials markets, the Fed ... upped its growth expectations for the U.S.,” Fiona Cincotta, senior market analyst at City Index, said in a note.

“This would mean that a faster pace of rate rises could be on the cards.”

Consumer staples, which are considered by some to be proxies for bonds given their generous dividend income streams, took the most points off the FTSE, given that rising bond yields dents their appeal for some investors.

There were some bright spots on the FTSE though. Banking stock Barclays jumped more than 4 percent after reporting its annual results.

Analysts cheered Barclays restoring its full dividend, which demonstrates that the bank is confident in future earnings.

“Full-year dividend back to 6.5p next year and talk of buybacks should have investors purring with delight even though a series of one-off charges meant Barclays slid to a loss in 2017,” Neil Wilson, senior market analyst at ETX Capital, said in a note.

Likewise utility Centrica bounced 7.5 percent after its full year results, in which it raised its cost savings and announced that it would cut 4,000 jobs by 2020.

Reporting by Kit Rees and Danilo Masoni; Editing by Matthew Mpoke Bigg

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