Britain's FTSE hits three-week low as financials, Tesco fall

* FTSE 100 down 1.9 pct at close

* Tesco drops after agreement to sell assets

* Standard Life falls on target price cut

* Brexit worries weigh on market (Adds details, updates prices at close)

By Kit Rees and Sudip Kar-Gupta

LONDON, June 10 (Reuters) - Britain's top share index fellon Friday, hit by a drop in grocer Tesco and majorfinancial and commodity stocks, while uncertainty over the voteon European Union membership also weighed on the market.

The blue-chip FTSE 100 index was down 1.9 percent at6,115.13 points at its close, hitting a three-week low andposting its biggest daily loss in four months.

Tesco dropped 4 percent after the supermarket agreed to sellits Turkish business and Giraffe restaurant chain in the UnitedKingdom.

"The disposal of Giraffe was thought to be off the table, sothe apparent change of heart suggests a level of desperation,"Jasper Lawler, market analyst at CMC Markets, said in a note.

Insurer Standard Life fell 4.4 percent afterinvestment bank UBS cut its price target on the group.

Several traders said they did not expect the FTSE to makemuch progress in the build-up to the June 23 vote on Britain'smembership of the EU, because of uncertainty over the result.

The latest betting odds on website Betfair show the impliedprobability of a British vote to stay in the European Union hasrisen to almost 78 percent, but opinion polls remain split onthe matter.

"The heightened fears over the impact a Brexit could have inthe UK, Europe, and global economy has renewed a wave of jittersthat has weighed on global sentiment," said FXTM researchanalyst Lukman Otunuga.

A retreat in metals and oil prices also knocked back theshares of mining and energy companies such as BP and BHPBilliton.

London copper ticked lower on Friday, and was hovering nearfour-month lows as headwinds from a likely mid-term U.S. ratehike that have boosted the dollar added to pressure from tepidphysical demand in top user China.

"With commodity markets showing weakness in China, we haveseen a second day of weakness in the FTSE," said CornhillCapital stockbroker Lewis Jones.

Precious metals miner Fresnillo gained 0.2 percentwhile Randgold Resources remained unchanged, reflectingdemand for perceived safe-haven assets.

Away from the blue chips, Deutsche Bank's downgrades toPageGroup and Hays sent the stocks down 6.6percent and 6.2 percent lower respectively.

Deutsche Bank cut its rating on the pair to "sell" from"hold".

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Mike Dolan, Markets Editor EMEA. (Editing by Andrew Roche)