Downbeat earnings and data drag Britain's FTSE off highs

* FTSE 100 down 0.6 percent

* Royal Dutch, AstraZeneca updates disappoint

* RBS knocked as FSA opens door to swaps compensation

* Aggreko haunted by earnings worries

* BSkyB cheered by online sports coverage offer

LONDON, Jan 31 (Reuters) - Britain's top shares came off

multi-year highs on Thursday as a mixture of downbeat earnings

and macro economic data kept the bulls at bay ahead of important

jobs data and corporate results in the U.S.

By 1206 GMT, London's blue chip index was down 36.20

points, or 0.6 percent to 6,286.91, slipping away from highs hit

in mid-May 2008.

Following Italian oil service firm Saipem's shock

profit warning the previous session, which had a ripple effect

across the European equity markets, Royal Dutch Shell

alone took around 8 points off the UK blue chip index

on Thursday after the oil major's fourth quarter profit came in

nearly $400 million short of expectations

AstraZeneca fell 5.6 percent in heavy volume having

traded 180 percent of its 90-day daily average by 1206 GMT,

after the drugmaker warned the coming year will be tough.

Antofagasta toiled too, shedding 0.6 percent and

extending falls in the previous session when doubts were raised

over its earning outlook.

Sentiment was also hurt ahead of non-farm payroll data due

out on Friday by concerns about the U.S. economy a key market

for Britain's heavyweight exporters -- after data showed an

unexpected contraction in fourth quarter gross domestic product

and the U.S. Federal Reserve acknowledged that economic activity

had stalled.

"I think there's a general perception that equities were

overdue a pull back after the recent run, and with U.S. GDP

coming in with such a disappointing measure, it was going to

take big beats on earnings for the FTSE to push higher this

morning," Matt Basi, head sales trader at CMC Markets, said.

Recent results have put a dampener on the optimism among

investors, which had helped push the markets up towards

four-and-a-half year highs.

While 70 percent of European companies have so far beaten or

met earnings estimates in the current reporting season, top

analysts still expect fourth-quarter growth to fall 8.8 percent

year-on-year.

Analysts also forecast a 1.7 percent contraction in

fourth-quarter earnings in the U.S.

"It will be interesting to see how Mastercard and others

come in later. U.S. earnings have been a huge part of the push

higher since the turn of the year, so bulls will be looking for

more big corporate numbers if we're going to carry on shrugging

off the macro backdrop," CMC's Basi said.

DON'T BANK ON IT

There was more regulatory concerns shrouding the backdrop

for the banks, with Royal Bank of Scotland slipping 2.5

percent after the UK's financial regulator opened the door to

swaps compensation claims, which could cost UK banks millions.

The news came a day after Lloyds Banking Group

combination of concerns over its role in an industry-wide probe

into the alleged manipulation of Libor interest rates and broker

downgrades.

Temporary power provider Aggreko also extended its

falls over the last five trading days to more than 11 percent,

with traders citing recent press speculation surrounding the

potential for another warning on earnings when it reports in

March as weighing on the stock.

"The price fall has made the price-to-earnings ratio (16.8

times) look cheap, but as short interest has risen 5 percent in

the past week and there are 6.25 percent of free float shares on

loan, it suggests a number of investors agree with the press

speculation and that analysts should be sharpening their pencils

for more cuts to estimates," a London-based trader said.

Investors greeted BSkyB's offer to show its popular

sports channels online for a daily fee with enthusiasm, pushing

the shares up 1.4 percent as the company seeks new customers to

offset slowing growth at its core pay-TV service amid sluggish

consumer spending.

Diageo was the top riser up 1.8 percent after the

world's biggest spirits group ended talks to buy a stake in

top-selling tequila brand Jose Cuervo.

(Written by David Brett/editing by Chris Pizzey, London MPG

Desk, +44 (0)207 542-4441)

Source: http://news.yahoo.com/downbeat-earnings-data-drag-britains-ftse-off-highs-122401339--business.html

Johnny Manziel ups Aj Mccarron Girlfriend linkedin linkedin CES 2013 joe budden