Britain's FTSE drops as investors dump defensives for banks and miners after Trump win

* FTSE 100 down 1.2 percent at close

* Tobacco firms, utilities under pressure

* Mediclinic drops after results

* Though miners, banks surge (Recasts, adds quote and detail, updates prices)

By Kit Rees and Alistair Smout

LONDON, Nov 10 (Reuters) - Britain's top share index fell onThursday in choppy trade as gold miners and defensive stocksslipped amid expectations of a big U.S. economic stimulus basedon President-elect Donald Trump's pledges of tax cuts andinfrastructure spending.

Britain's FTSE 100 fell 1.2 percent, breaking athree-day climb and retreating from its highest level since lateOctober.

Safe-haven plays that surged in the turmoil after the U.S.election dropped back, with precious metals miners RandgoldResources and Fresnillo slumping more than 10percent as gold fell on a strengthening dollar.

Stocks traditionally perceived as defensive plays such astobacco makers fell. Imperial Brands and BritishAmerican Tobacco lost 4.9 percent and 6.1 percentrespectively. Utility National Grid also dropped 6.1percent after reporting earnings.

"A lot of defensive, decent-yielding stocks ... have justbeen left behind by this market," said Jeremy Steinson, directorat Patronus Partners.

"Post-Trump coming in as well, it's the part of the marketthat doesn't look particularly interesting."

Top faller was Mediclinic, which tanked 15.7percent and marked its biggest one-day loss ever after poorlyreceived results. Earnings were hit after the acquisition of AlNoor negatively affected its operating profit.

On the positive side, copper miner Antofagasta jumped 11.5 percent. The mining, industrial metals, construction and materials sectorsrose 0.9-11.1 percent. 1.1 11.1

Copper prices jumped to the highest levels in more than ayear on the back of Trump's infrastructure spending promises,while bond yields also rose as his policies are seen asinflationary.

"The Republican dominance of the next U.S. governmentincreases the likelihood that inflation will be higher in thecoming year, and even growth might receive a boost from moregovernment spending and tax cuts," strategists at Julius Baersaid in a note.

"We believe the rally (in metals) was primarily driven bybets on Trump's promise to massively boost U.S. infrastructurespending."

Defence firm BAE Systems rose 4.6 percent astraders bet that European governments might increase armsspending after Trump's win. Trump has said he might not bewilling to protect NATO allies that failed to spend enough ontheir own defence.

Markets are also betting that the U.S. Federal Reserve willstill hike rates in December in the wake of Trump's election.

Banks rose, with Barclays, which has substantialU.S. exposure, up 4.3 percent, as higher interest rates stand toease concerns over bank profitability.

"The outlook for interest rates has been muddied by theDonald Trump victory, but markets continue to price in aDecember rate hike from the Federal Reserve," said JasperLawler, market analyst at CMC Markets.

One stock which is set to benefit from higher rates in theUnited States is insurer Prudential.

It rose 7.4 percent after it agreed to sell its lifeinsurance unit in South Korea. (Reporting by Alistair Smout; Editing by Gareth Jones and HughLawson)