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* FTSE 100 closes 0.8 pct lower, ends four-day winning run
* Property and housebuilding stocks drop
* FTSE 100 down in dollar terms since Brexit vote
By Sudip Kar-Gupta and Atul Prakash
LONDON, July 4 (Reuters) - Britain's top shares indexretreated from a 10-month high on Monday as weaker property andhousebuilding stocks weighed on the market and halted itsrebound from a slump caused by the United Kingdom's decision toleave the European Union.
The blue-chip FTSE 100 index, which rose in the pastfour straight sessions, closed 0.8 percent lower at 6,522.26points, after climbing to its highest level since August 2015earlier in the day.
While the FTSE 100 has recovered since June 24, the indexremains down by more than 8 percent in U.S. dollar terms sincethe vote, as the slump in sterling has reduced the value of theBritish market in dollar terms.
Property stocks British Land and Land Securities were the worst performers, down 7.1 percent and 5.7percent respectively, while housebuilders Persimmon andTaylor Wimpey fell 7.8 percent and 6.3 percent.
That sector was hit as data on Monday showed Britain'sconstruction industry suffered its worst contraction in sevenyears in June as concerns over Britain's vote on quitting the EUintensified.
"Although short term stock market gains may be realised asexpectations inflate over central bank intervention, the keyfundamentals and ongoing concerns which have punished globalstocks still remain intact in the background," said FXTMresearch analyst Lukman Otunuga.
The FTSE 100 initially fell around 6 percent after thereferendum result on June 24 showed Britain had voted to quitthe EU, a result which pummelled sterling on currencymarkets.
The market recovered last week, helped by expectations ofmore central bank help to stabilise markets. It has also beenaided by the fact that a weaker sterling can help the FTSE'sinternational companies, since a weaker pound can help Britishcompanies export overseas.
Nevertheless, several analysts remained cautious over themarket outlook, given the risks generated by Brexit, with theBritish economy expected to weaken as a result.
"At the moment, we have seen selling at these levels,reducing exposure into any rallies that present themselves suchas the recent move higher in GlaxoSmithKline. Many areopting to sit in cash, waiting for a market pull back," saidLewis Jones, stockbroker at Cornhill Capital.
On the positive side, precious metals miners set new peaks,tracking gains in gold and silver prices, with RandgoldResources climbing to a record high and Fresnillo at its best level since late 2012. Their shares closed4.4 percent and 7.7 percent higher respectively.
Randgold shares have spiked 120 percent so far this year,while Fresnillo has jumped 166 percent. (Editing by Janet Lawrence)
