LONDON (Reuters) - Britain's top share index fell on Monday as heavyweight Reckitt Benckiser (>> Reckitt Benckiser) dropped following its results and as airlines were hit by price war worries.

Britain's blue-chip FTSE 100 <.FTSE> index ended down 1 percent at 7,377.7 points.

Consumer goods company Reckitt Benckiser fell 3.3 percent, the biggest FTSE loser, after second-quarter sales fell 2 percent following last month's cyber attack, which disrupted its operations.

"We consider the quality of these results disappointing for a company like RB, and expect the stock to underperform today particularly given management's commentary around 2017 outlook," analysts at UBS said in a note.

Airlines also saw losses, with budget carrier easyJet (>> EasyJet) down 2.8 percent and British Airway's operator IAG (>> International Consolidated Airlines Group) falling 0.8 percent after Irish peer Ryanair (>> Ryanair Holdings plc) warned rivals that it may cut its late summer fares by as much as 9 percent compared with last year.

Blue chip risers were dominated by more defensive stocks, with pharma firm Shire (>> Shire) making modest gains.

Outside of the blue chips, M&A was in focus on the mid-cap <.FTMC> index after B&M European Value Retail (>> B&M European Value Retail) jumped 4.8 percent on the back of a media report that Wal-Mart's (>> Wal-Mart Stores) Asda is considering a 4.4 billion pound ($5.7 billion) bid to take over the discount retailer.

The British mid cap <.FTMC> index fell 0.7 percent, led lower by a 20 percent slump in Acacia Mining's (>> Acacia Mining PLC) shares following a spate of broker cuts in light of the gold miner's continuing troubles stemming from Tanzania's export ban.

(Reporting by Kit Rees; editing by Jeremy Gaunt)

By Kit Rees