UPDATE 2-Healthcare drags FTSE 100 down; Vodafone jumps

(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)

* GlaxoSmithKline slumps on COVID-19 vaccine development

* Vodafone gains after earnings beat estimates

* Glencore rises after maintaining 2021 output targets

* FTSE 100 down 0.1%, FTSE 250 adds 0.3%
(Updates to close)

By Shashank Nayar, Amal S and Shivani Kumaresan

Feb 3 (Reuters) - The FTSE 100 slipped on Wednesday, as
falls in healthcare stocks offset gains elsewhere driven by
investors' hopes that mass vaccinations would accelerate an
economic revival, while Vodafone jumped after its earnings beat
estimates.

GlaxoSmithKline Plc lost 6.3% and was the biggest
drag on the index, after warning of a bigger than expected fall
in 2021 earnings as the COVID-19 pandemic continues to disrupt
other areas of healthcare.

"GSK's expected new dividend policy will mean lower payouts,
and thus the stock, a noted income stream for investors, has
taken a knock, with fears that AstraZeneca might have to follow
suit, leading to a small decline for that company’s shares too,"
said Chris Beauchamp, chief market analyst at IG.

The blue-chip FTSE 100 index slid 0.1%, with
AstraZeneca Plc, Smith & Nephew plc and Hikma
Pharmaceuticals also weighing on the index, while the
mid-cap index added 0.3%.

The export-oriented and commodity stocks-heavy FTSE 100 has
rebounded from early-2021 losses to trade 1.3% higher for the
year, as vaccinations pick up pace, corporate earnings improve
and commodity prices increase.

A survey indicated that Britain's third national coronavirus
lockdown has put the economy on course for a sharp contraction
in early 2021, but services companies - buoyed by progress on
vaccinations - are confident about recovery.

Britain's health minister on Wednesday defended his decision
to give a shot developed by Oxford University and AstraZeneca to
all age groups including over-65s, saying this was supported by
scientific evidence.

Vodafone, the world's second-largest mobile
operator, rose 5.9% and was the top boost to the FTSE 100 after
saying its organic service revenue returned to growth in its
third quarter, beating analysts' expectations.

Glencore, which mines coal, nickel, silver, zinc
and copper, added 0.9% after affirming all of its production
targets for 2021.
(Reporting by Shashank Nayar and Shivani Kumaresan in
Bengaluru; editing by Uttaresh.V and Kevin Liffey)