* FTSEurofirst 300 falls 0.5 percent
* Miners fall on China worries
* Bank of Ireland gains, most other banks lower
* For up-to-the-minute market news, click on []
By Brian Gorman
LONDON, Nov 19 (Reuters) - European shares fell back on
Friday after strong gains the previous session, with miners
lower on worries that China, the world's biggest metals user,
will raise interest rates.
Most analysts remained optimistic for progress in resolving
Ireland's debt crisis, but banks fell on longer-term worries
about euro zone debt.
At 1005 GMT the FTSEurofirst 300 <> index of top
European shares was down 0.5 percent at 1,102.61 points, after
rising 1.4 percent on Thursday.
For the week the European benchmark is set to fall 0.1
percent but is up more than 70 percent from its lifetime low of
March, 2009, with several major economies having emerged from
recession, helped by stimulus from governments and central banks
worldwide.
Optimism on a deal for Ireland helped the euro to edge up on
Friday, with the dollar falling, boosting metals prices.
However, this did not translate into higher share prices for
miners, which gave back some of the previous session's gains.
Anglo American <AAL.L>, BHP Billiton <BLT.L> and Rio Tinto
<RIO.L> fell between 1.6 and 2.1 percent.
Investors remain worried that China, the world's biggest
metals user, may raise interest rates, with inflation running at
a 25-month high.
"There's concern the Chinese may look to tighten monetary
policy. Inflation in China is quite high, and the Fed money
printing is exporting inflation," said Michael Hewson, market
analyst at CMC Markets.
"And even if there is a resolution for Ireland, all it does
is shift the focus back to the mainland periphery."
Ireland insisted its low rate of corporation tax was
"non-negotiable" as it discusses an aid package worth tens of
billions of euros from European partners and the IMF for its
shattered banks.
Nevertheless some analysts remained optimistic.
"Ireland is a focal point for the markets and it looks as
though something that was a destabilising influence in the euro
zone is heading for a resolution, though the sticking point will
be the corporate tax issue," said Mike Lenhoff, chief strategist
and head of research at Brewin Dolphin Securities in London.
"Anybody who has sat back in the hope there would be a
buying opportunity has been disappointed."
Bank of Ireland <BKIR.I> was among the gainers, up 6.9
percent, though most banks were lower, including Spanish
heavyweights BBVA <BBVA.MC>, and Banco Santander <SAN.MC>, 1.5
and 2 percent lower respectively.
Barclays <BARC.L>, Standard Chartered <STAN.L> and UBS
<UBSN.VX> fell between 1.2 and 2.2 percent.
Across Europe, Britain's FTSE 100 <> and France's CAC40
<> fell 0.7 and 0.2 percent respectively. Germany's DAX
<> was flat. The Thomson Reuters Peripheral Eurozone
Countries Index <.TRXFLDPIPU> was flat.
ZODIAC FALLS
Among individual stocks, Zodiac <ZODC.PA> fell 6 percent
after French defence group Safran <SAF.PA> says it will not make
an offer for the French aviation parts supplier, ending months
of uncertainty over its intentions. Safran rose 4.9 percent.
[]
Drug maker Bayer <BAYGn.DE> rose 2.4 percent, after rivals
Pfizer <PFE.N> and Bristol-Myers Squibb Co <BMY.N> halted a
late-stage study of their blood thinner apixaban, rival to
Bayer's Xeralto. []
(Editing by Greg Mahlich)
