* FTSEurofirst 300 down, ending 6-day winning run
* Banks, commodities leading fallers
* Cadbury says Kraft bid unappealing; shares rise
* For up-to-the-minute market news, click on []
By Dominic Lau
LONDON, Sept 14 (Reuters) - European shares fell in early
trade on Monday, breaking a six-session winning streak and
pulling back from 11-month highs, with banks and commodity
stocks leading the fallers.
By 0751 GMT, the FTSEurofirst 300 <> index of top
European shares was down 0.9 percent at 984.58 points, after
hitting its highest closing level in 11 months in the previous
session.
Oil producers eased as crude <CLc1> fell on a firmer U.S.
dollar and on nagging concerns that prices may have run ahead of
market fundamentals.
BP <BP.L>, Royal Dutch Shell <RDSa.AS>, Total <TOTF.PA>,
StatoilHydro <STL.OL> and BG Group <BG.L> lost 0.5 to 1.7
percent.
Metal prices also slipped as the dollar regained some ground
after investors covered short positions, sending mining stocks
lower.
BHP Billiton <BLT.L>, Anglo American <AAL.L>, Rio Tinto
<RIO.L>, Xstrata <XTA.L>, Kazakhmys <KAZ.L>, Vedanta Resources
<VED.L> and Eurasian Natural Resources <ENRC.L> were down 1.2 to
3.9 percent.
Banks were among the top losers, with KBC <KBC.BR>, BBVA
<BBVA.MC>, BNP Paribas <BNPP.PA>, Commerzbank <CBKG.DE>,
Barclays <BARC.L>, Societe Generale <SOGN.PA> and Swedbank
<SWEDa.ST> down 1.7 to 4.2 percent.
However, Stephen Pope, chief global market strategist at
Cantor Fitzgerald, said any weakness offered a buying
opportunity and he expected the FTSEurofirst 300 to hit 1,100 by
year end.
"If you turn around and look at the economic numbers coming
through, everything is showing signs of improvement," Pope said,
referring to Asian growth and Germany PMI data.
"I know there is an issue about how much longer government
stimulus programmes can continue but believe me these western
governments will do whatever it takes to make sure these
economies don't slip back and... double dip."
Across Europe, Britain's FTSE 100 <> slipped 0.6
percent, Germany's DAX <> dropped 0.8 percent and France's
CAC 40 <> fell 1 percent.
U.S. stocks broke a five-day winning streak on Friday, while
Japan's Nikkei average <> dropped 2.3 percent on Monday,
pushed lower by exporters after the dollar hit a fresh
seven-month low against the yen.
Investors will keep a close eye on euro zone employment data
and industrial production figures, both due at 0900 GMT.
The pan-European index has rallied 52 percent since hitting
a floor in early March but it is still down 15 percent from its
level in mid-September 2008 before the collapse of Lehman
Brothers.
BITTER SWEET
Cadbury <CBRY.L> added 0.9 percent, extending last week's 36
percent rally after Kraft Foods' <KFT.N> 10.2 billion pounds
($17 billion) approached for the UK confectionery group.
Cadbury Chairman Roger Carr said it was an "unappealing
prospect" being absorbed into Kraft's low growth conglomerate
business model. []
Among other top gainers in Europe, Finmeccanica <SIFI.MI>
put on 1.3 percent after the group said its DRS Technologies was
chosen with another supplier to supply infrared technology.
Automakers <.SXAP> were weaker, down 0.9 percent, weighed by
a sectoral downgrade to "neutral" from "overweight" from Societe
Generale.
Peugeot <PEUP.PA>, which was cut to "underperform" from
"outperform" by Credit Suisse, shed 3.8 percent, while Daimler
<DAIGn.DE>, Volvo <VOLVb.ST> and Renault <RENA.PA> lost 1.3 to
3.2 percent.
Fiat <FIA.MI> added 1 percent after Goldman Sachs reinstated
its "buy" rating on the Italian automaker. Volkswagen <VOWG.DE>
advanced 1.9 percent.
Also on the downside, Deutsche Telekom <DTEGn.DE> slipped
1.3 percent after the Sunday Telegraph said the German telecoms
group was considering a bid for U.S.-based Sprint Nextel <S.N>.
Deutsche Telekom declined to comment.
Sprint Nextel shares in Frankfurt <S.F> jumped 18.8 percent.
(Editing by Hans Peters)
