Last checked at 
* FTSE 100 index down 0.2 percent
* Burberry falls after profit slump
* Miners track weaker metals prices (Adds detail and quote, updates prices)
By Kit Rees and Atul Prakash
LONDON, May 18 (Reuters) - Britain's top share index slippedfrom a two-week high on Wednesday as luxury goods firm Burberry fell after a slump in its profits and miners trackedweaker metals prices.
The blue-chip FTSE 100 index was down 0.2 percent at6,153.90 points by 1453 GMT after rising on Tuesday to itshighest level since May 3. The benchmark index is down 1.4percent so far this year.
Burberry dropped 2.3 percent after saying it wouldoverhaul its retail operations and simplify its product range,as its full-year profit slipped 10 percent.
The group also said it expected the market to remainchallenging this year, meaning profit is likely to come intowards the bottom of market forecasts.
"Trading conditions in Hong Kong have taken their toll onBurberry," said Steve Clayton, head of equity research atHargreaves Lansdown.
"The travelling Chinese luxury consumer is clearly stillreluctant to come out and spend money at the moment, and as longas that remains the case, things are likely to remain tough forBurberry."
Among sectors, miners were hit hard after copper prices sankto their lowest since mid-February as the dollar rallied after astream of encouraging U.S. economic data supported the case formore rate rises this year.
Prices of other industrial metals were also down.
The UK mining index fell 2.2 percent, the topsectoral decliner. Shares in Anglo American, Antofagasta, Glencore, Rio Tinto and BHP Billiton fell 1.6 to 3.4 percent.
On the positive side, British banking stocks were the toprisers on the blue chip index, with the FTSE 350 Banks index gaining 1.6 percent. Royal Bank of Scotland, Lloyds Banking Group and Barclays allrose between 3.3 percent and over 4 percent.
Analysts pointed to the release of the U.S. FederalReserve's minutes for the meeting in April after the marketcloses, which could be more hawkish than the meeting andindicate a potential rate hike in June.
"Banks are struggling in this low rate environment and theirinterest margins are rock-bottom, so the sooner the U.S. gets onand starts raising rates, the better it is for the banks' corebusiness," Jasper Lawler, market analyst at CMC Markets, said.
U.S.-facing equipment rentals company Ashtead wasalso among the top gainers, rising 3.4 percent with analystspointing to recent upbeat U.S. data fuelling investor appetitefor the stock, as well as solid results from some of its U.S.sector peers.
ADVISORY- Reuters plans to replace intra-day European and UKstock 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 formatfrom 0600 London time through the 1630 closing bell, it willinclude the best of our market reporting, Stocks Buzz service,Eikon graphics, Reuters pictures, eye-catching research andmarket zeitgeist. Breaking news and dramatic market moves willcontinue to be alerted to all clients and we will continue toprovide 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 Atul Prakash; Editing by Mark Heinrich)
