UPDATE 2-Brexit delay lifts mid-caps to 6-mth high; growth fears bruise FTSE 100

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UPDATE 2-Brexit delay lifts mid-caps to 6-mth high; growth fears bruise FTSE 100
Credit: © Reuters.

* FTSE 100 down 0.1 pct

* FTSE 250 up 0.7 pct

* Blue-chip miners slip on global growth fears

* Ex-dividend trading also weighs

* Brexit delay aids financials, housebuilders, airlines (Adds news items, analyst comment, updates to closing prices)

By Yadarisa Shabong and Shashwat Awasthi

April 11 (Reuters) - Fears of a global economic slowdown and uncertainty over trade policies kept Britain's main share index subdued as miners were tugged lower, but UK-focused stocks rallied after a second Brexit delay as the mid-cap index scaled a six-month high.

The FTSE 100 .FTSE was down 0.1 percent, with losses led by several stocks trading ex-dividend, while the FTSE 250 .FTMC added 0.7 percent.

Dublin's main index .ISEQ , considered a measure of Brexit sentiment, jumped 0.6 percent.

The European Union granted Britain a six-month extension to leave the bloc, averting a disorderly exit on Friday and giving Prime Minister Theresa May more time to break the Brexit deadlock at home.

"Rather than worrying about going on holiday over the summer, people can now open their wallets, spend some money, book a holiday and generally start to worry less about a Brexit cliff edge and actually make plans for the next six months," said CMC Markets analyst Michael Hewson.

Blue-chip airline stocks cheered the delay with EasyJet EZJ.L gaining 8.4 percent and IAG ICAG.L adding 5.9 percent on its best day since October 2016.

London-listed shares of German tour operator TUI TUIT.L surged 8.3 percent, with a trader also citing a rating action by Exane.

Domestically focused financial stocks also outperformed the main index with Lloyds LLOY.L , Barclays BARC.L and RBS RBS.L advancing.

Housebuilders, considered more sensitive to Brexit developments, were also buoyed by the extension as well as data showing British house prices improved in March for the first time since July. Persimmon PSN.L , Taylow Wimpey TW.L , Berkeley BKGH.L and Barratt BDEV.L jumped between 2.1-4 percent.

However, losses in heavyweight miners .FTNMX1770 driven by a decline in copper prices stemming from fears of a global economic slowdown and a U.S.-EU trade spat soured the mood on the main bourse. metals mining company Fresnillo FRES.L shed 7.2 percent after its quarterly production fell. blue-chip stocks that traded ex-dividend also weighed. ITV ITV.L , Standard Life Aberdeen SLA.L , Aviva AV.L and Smurfit Kappa SKG.I fell by between 2.8 and 3.4 percent.

Rating downgrades hurt Marks & Spencer MKS.L and its online food joint venture partner Ocado OCDO.L . M&S slipped 1.5 percent after a Credit Suisse (SIX: CSGN ) downgrade and Ocado skidded 2.3 percent after HSBC lowered its rating.

Hewson said the mid-cap index's rally was aided by the fact that the prospect of a cliff edge Brexit or a messy no-deal Brexit had been put off for another six months.

"Investors...can start piling back in to UK stocks, which are I think still fairly cheap," Hewson said.

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