* Oil majors slip as crude trades below $64/barrel

* Miners down with raw material prices

* Defensives bounce led by pharma issues

By David Brett

LONDON, July 6 (Reuters) - Britain's top share index fell
1.1 percent early on Monday on concerns about the global
economic outlook, with heavyweight oils, miners and banks
leading the market lower.

By 0821 GMT, the FTSE 100 .FTSE index was down 45.01
points at 4,191.27, after gaining 0.1 percent on Friday.

The index fell through the 4,200 level for the first time
since late April. It has gained over 20 percent since touching a
six-year low in March, but is still down 5.6 percent on the
year.

"This is a trend we're likely to see throughout July," said
Howard Wheeldon, strategist at BGC Partners.

"There is no new news out there on which anybody can set up
a new stall to believe that recovery is very firmly the order of
the day."

The FTSE was mainly a sea of red with oil majors weighing
heaviest on the index as the price of crude CLc1 hovered just
above $65 a barrel, with traders selling on the back of mounting
fears over the speed of economic recovery.

BG Group (BG.L: Quote, Profile, Research), BP (BP.L: Quote, Profile, Research), Cairn Energy (CNE.L: Quote, Profile, Research), Royal
Dutch Shell (RDSa.L: Quote, Profile, Research) and Tullow Oil (TLW.L: Quote, Profile, Research) fell between 1.8 and
2.5 percent.

The fall on London's blue-chip market reflected weak
showings in Asia on Monday and the lack of a lead from Wall
Street, closed on Friday for the long Independence Day holiday
weekend. [ID:nnSYD390584]

Miners were also beaten down as the price of raw materials
once again sagged. [ID:nLT405892]

Lonmin (LMI.L: Quote, Profile, Research), Xstrata (XTA.L: Quote, Profile, Research), Kazakhmys (KAZ.L: Quote, Profile, Research) Anglo
American (AAL.L: Quote, Profile, Research) Rio Tinto (RIO.L: Quote, Profile, Research), and BHP Billiton (BLT.L: Quote, Profile, Research)
dropped between 2.3 percent and 4.6 percent.

Rio Tinto (RIO.L: Quote, Profile, Research) agreed on Monday to sell its Americas
food-packaging assets for $1.2 billion to packaging group Bemis
(BMS.N: Quote, Profile, Research), raising yet more much-needed cash for the indebted
miner. [ID:nSYD463954]

Banks also bore the brunt of investor pessimism. RBS
(RBS.L: Quote, Profile, Research), Barclays BARC., Standard Chartered (STAN.L: Quote, Profile, Research), HSBC
(HSBA.L: Quote, Profile, Research) and Lloyds Banking Group (LLOY.L: Quote, Profile, Research) retreated between 0.5
and 2.1 percent.

UKFI, the body in charge of Britain's stakes in some of its
leading banks will this week downplay expectations of a quick
sale of the shareholdings, according to The Sunday Telegraph.
[ID:nL5675462]

DEFENSIVES RALLY

There were few blue-chip gainers but, among them, defensive
attractions were to the fore, with pharmaceutical issues the top
performing sector led by AstraZeneca (AZN.L: Quote, Profile, Research) and Shire (SHP.L: Quote, Profile, Research)
both up 0.8 percent.
Household products firm Reckitt Benckiser (RB.L: Quote, Profile, Research) was the top
blue-chip gainer, up 0.9 percent, while food retailer J
Sainsbury (SBRY.L: Quote, Profile, Research) added 0.6 percent.

After last Thursday's disappointing U.S. jobs report,
investors will look to June's ISM non-manufacturing sector index
for further clues as to the health of the economy across the
Atlantic on Monday.

The U.S. corporate earnings season gets under way this week,
with results expected from oil major Chevron (CVX.N: Quote, Profile, Research) and
aluminium producer Alcoa (AA.N: Quote, Profile, Research).

No important domestic data is due on Monday, with the main
macro focus this week on the latest monthly Bank of England
Monetary Policy Committee meeting.

Although no changes are expected to interest rates or the
bank's current quantitative easing policy when an announcement
is made at 1100 GMT on Thursday.

(Editing by Simon Jessop)