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* Antofagasta ( ANFGF ) drops almost 5%, extending second-day slide

after disappointing production outlook

* FTSE 350 industrial metal and mining index heads for 4.7%

weekly drop

* Sage, Experian ( EXPGF ) and Relx ( RELX ) rise 3.5% to 5.7% after Reuters

reports Silver Lake-Workday deal

Aug 14 (Reuters) - London's FTSE 100 was on track for its

first weekly setback in five on Friday, as miners retreated

alongside a dip in copper prices, though software and data

companies rebounded after the report of a large deal in the

sector.

The blue-chip FTSE 100 dipped 0.1% to 10,765.30

points by 1009 GMT, on track for its first weekly decline since

early July. The midcap FTSE 250 edged up 0.1% to

24,860.50 points, set to end the week largely flat.

* Shares of miner Antofagasta ( ANFGF ) dropped almost 5%,

down sharply for the second consecutive day after its production

outlook disappointed on Thursday and copper prices fell after a

recent rally.

* The FTSE 350 industrial metal and mining index

was set for a 4.7% weekly drop, in what could be

the weakest weekly performance since mid-March.

* Among gainers, shares of Sage Group ( SGGEF ), Experian ( EXPGF )

and RELX ( RELX ) climbed in 3.5% to 5.7% after Reuters

reported private equity firm Silver Lake was in talks to acquire

U.S. software firm Workday, lifting the sector.

* Global stocks traded just below record highs as benign

U.S. inflation data this week tempered expectations of Federal

Reserve interest rate hikes this year.

* Still, a lack of progress towards a lasting peace deal

between the United States and Iran has weighed on sentiment and

kept crude prices on track for weekly gains.

* The United States said on Thursday it could maintain a

naval blockade of Iran indefinitely and would ratchet up

economic pressure on Tehran as ceasefire talks have floundered,

global oil supply is dropping and regional tensions are rising.

* Bank of England Chief Economist Huw Pill told the Wall

Street Journal that stronger-than-expected British economic

growth figures reinforced the case for higher borrowing costs to

bring inflation back to target, after data showed a surprise

0.3% rise in the UK's gross domestic product in June.

* Traders expect at least one 25-basis-point rate hike from

the BoE by the end of this year, according to LSEG-compiled

data.

* Ladbrokes owner Entain ( GMVHF ) rose 3.6% as it beat

first-half profit expectations, while identity technology

company GB Group sank 27%, its steepest fall in over

nine years, after cutting its annual revenue growth forecast.

(Reporting by Anand Gopal and Sruthi Shankar in Bengaluru;

Editing by Joyjeet Das)