* FTSEurofirst 300 down 0.2 pct after 4-session gain
* Miners, financials among top decliners
* Earnings eyed; Alcoa kicks off earnings season on Monday
* For up-to-the-minute market news, click on []
By Atul Prakash
LONDON, July 12 (Reuters) - European shares fell on Monday
as miners lost ground, tracking weaker metals prices, after
weekend data showed China's June copper imports fell short of
expectations, though overall trade data surprised on the upside.
Banks also edged lower, with the STOXX Europe 600 banking
index <.SX7P> down 0.4 percent, as uncertainty persisted about
the results of a stress test for European banks.
At 0838 GMT, the FTSEurofirst 300 <> index of top
European shares was down 0.2 percent at 1,020.14 points after
rising to a high of 1,023.68 earlier in the session. It posted
its biggest weekly rise in a year last week.
Investors awaited earnings results this week from companies
such as JPMorgan Chase <JPM.N>, Bank of America <BAC.N> and
Citigroup <C.N>. Aluminium major Alcoa <AA.N> kicks off the U.S.
earnings season on Monday.
"In view of the concerns that the markets and investors have
had about the loss of economic momentum, these results will be
pretty important. If they are better than expected, they are
going to be very good for the market," Mike Lenhoff, chief
strategist at Brewin Dolphin
"Some of the pre-announcements have been quite encouraging.
So it looks as if it's going to move in the right direction, but
you have to wait until we see them," he said, referring to the
earnings season.
Miners lost ground after Chinese data showed a drop in
copper imports for a third month in June, stoking fears of a
demand shortfall. However, the country's overall exports rose
43.9 percent in June from a year earlier and imports were up
34.1 percent. []
The STOXX Europe basic resources index <.SXPP> fell 1
percent, tracking a 1.3 percent drop in copper prices <MCU3>.
BHP Billiton <BLT.L>, Anglo American <AAL.L> and Eurasian
Natural Resources <ENRC.L> fell 0.6 to 1 percent.
FINANCIALS DOWN
Banks were also on the back foot ahead of the stress test
results later this month.
German magazine Der Spiegel reported in an excerpt of an
article that Europe's banking stress test included a haircut on
German sovereign debt under certain conditions in its worst
scenario. []
Europe on Wednesday listed 91 banks taking part in financial
stress tests -- including many regional banks where markets
suspect most of the sore spots are -- as it seeks to restore
confidence in the sector. []
Standard Chartered <STAN.L>, BNP Paribas <BNPP.PA> and
Natixis <CNAT.PA> fell 0.5 to 0.9 percent.
Among individual movers, BP <BP.L> rose 5.8 percent. The
company said on Sunday it was making progress with a new
containment system for its ruptured well in the Gulf of Mexico.
It said on Monday the cost of the spill had risen to about $3.5
billion.
(Editing by Hans Peters)
