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* FTSE 100 down 0.6%, FTSE 250 flat

Feb 21 (Reuters) - The UK's FTSE 100 fell on Wednesday, as disappointing earnings updates from HSBC Holdings and Glencore weighed on banking and mining stocks, while investors awaited U.S. Federal Reserve's last meeting minutes for clues on its policy outlook.

The blue-chip FTSE 100 index slipped 0.6%, as of 0815 GMT, while the mid-cap FTSE 250 index was flat at 19121.97.

HSBC Holdings lost 6.6% to hit the bottom of FTSE 100, after the lender missed market estimates for annual profit.

Glencore shed 3.8% as the miner said lower commodity prices had halved its earnings last year, and slashed its payout to investors, as the company saves to fund the acquisition of a 77% stake in Teck Resources' metallurgical coal business.

Financials and base metal miners dropped 3.6% and 1.6%, respectively, to lead declines among sectors.

Market participants will now await comments from Bank of England monetary policy member Swati Dhingra and the Fed policy meeting minutes, both due later in the day, for central banks' views on the timing of interest rate cuts. (Reporting by Shristi Achar A in Bengaluru; Editing by Rashmi Aich)