* FTSEurofirst 300 index closes down 0.3 percent
* Banks, energy stocks fall
* Food producers gain
By Joanne Frearson
LONDON, Sept 14 (Reuters) - European shares fell on Monday,
snapping six days of gains, as weaker banks and energy shares
outpaced positive food producers, while a U.S.-China trade row
also hurt sentiment.
The pan-European FTSEurofirst 300 <> index of top
shares closed down 0.3 percent at 990.95 points after hitting
its highest close in 11 months on Friday.
The index is up 19 percent this year and has jumped 53
percent since hitting a floor in March, but is still down nearly
15 percent from its level in mid-September 2008 before the
collapse of Lehman Brothers, once the fourth-largest U.S.
investment bank.
"The markets might jump to the conclusion that this is a
protectionist measure. But, I suspect the markets are just
looking for an excuse to take some profits," said Mike Lenhoff,
strategist at Brewin Dolphin, referring to a move by the U.S.
administration to impose special duties on Chinese tyre imports.
[]
"The markets are looking for a breather and it is nothing
more than that. It's just another ordinary day on the market,"
said Lenhoff.
Banks featured among the worst performers. BNP Paribas
<BNPP.PA>, Deutsche Bank <DBKGn.DE> and Societe Generale
<SOGN.PA> were down 0.9-2.4 percent.
Energy stocks were lower after crude <CLc1> slipped back
towards $68 a barrel. BG Group <BG.L>, Royal Dutch Shell
<RDSa.L> and Tullow Oil <TLW.L> were down 0.9-2.3 percent.
MINERS FALL
Miners were lower as metal prices retreated. Copper
<MCU3=LX> was down 1.1 percent, aluminium <MAL3=LX> was 0.8
percent lower, and nickel <MNI3=LX> fell 1.4 percent.
Antofagasta <ANTO.L>, BHP Billiton <BLT.L>, Eurasian Natural
Resources Corporation <ENRC.L> and Rio Tinto <RIO.L> were
0.5-3.1 percent lower.
"There is a general feeling that the market is quite
overextended and we are extremely overbought. I think we are
very close to the end of this very big move and the next couple
of months will be very difficult," said Philippe Gijsels, senior
equity strategist at Fortis Bank, in Brussels.
On the upside, food producers were among the highest movers,
with British bid target Cadbury <CBRY.L> gaining 1.4 percent.
Cadbury is set to beef up its defence against Kraft <KFT.N>
this week as chief executive Todd Stitzer addresses investors
and it ponders an early third-quarter update, analysts and fund
managers said. []
Defensive stocks were also in favour. Drugmakers
GlaxoSmithKline <GSK.L> and Roche <GSK.L> both rose 0.6 percent.
Data also failed to support the market. Euro zone industrial
output fell in July and employment dropped again in the second
quarter, pointing to continued weakness in the economy despite
signs that euro zone recession may be ending. []
Across Europe, the FTSE 100 <> index was up 0.2
percent, Germany's DAX <> and France's CAC 40 <> were
both down 0.1 percent.
(Additional reporting by Atul Prakash; Editing by Dan Lalor)
