Banks lead European shares lower in early trade

                                
 * FTSEurofirst 300 <.FTEU3> index down 0.4 pct
                                
 * Banks fall after strong run
                                
 * Whitbread higher after results
                                
 * For the latest stocks news, click on [STXNEWS/EU]
                                
 
                                
 By Brian Gorman
                                
 LONDON, Oct 13 (Reuters) - European shares fell in early
trade on Tuesday, with banks giving up some recent gains, and as
investors awaited more third-quarter results.
                                
 At 0833 GMT, the FTSEurofirst 300 <.FTEU3> index of top
European shares was down 0.4 percent at 1,001.16 points. On
Monday, it rose 0.7 percent to its highest close since Sept. 23,
boosted by results at Philips <PHG.AS>.
                                
 The European benchmark index is up more than 55 percent from
its lifetime low of March 9, as investors have become more
confident on the prospects of economic recovery.
                                
 "There may be some corrections in this market, but you're
better off being in the market, for further gains," said Bernard
McAlinden, investment strategist at NCB Stockbrokers.
                                
 "Economic data is still OK, and valuations are still OK."
                                
 Banks were among those taking most points off the index.
                                
 Deutsche Bank <DBKGn.DE> fell 1.6 percent as traders cited
market speculation that Germany's biggest bank may be planning a
capital increase.
                                
 Rumours of a capital increase at Deutsche Bank were
triggered by remarks made by Chief Executive Josef Ackermann,
who said on Monday the banking industry as a whole needed to be
better capitalised. [ID:nLC424593]
                                
 BNP Paribas <BNPP.PA>, Banco Santander <SAN.MC>, Barclays
<BARC.L>, BBVA <BBVA.MC>, Credit Suisse <CSGN.VX> and UniCredit
<CRDI.MI> were 1.2 to 2.8 percent lower.
                                
 Banks <.SX7P> are still up nearly 170 percent from the lows
of March.
                                
 Miners also fell, hit by the falling price of copper,
although the sector decline was partially offset by strength in
gold <XAU=>, which hit a fresh high of $1,063.60 an ounce.
                                
 Antofagasta <ANTO.L>, Lonmin <LMI.L> and Rio Tinto <RIO.L>
fell between 1 and 2.5 percent.
                                
 Among individual shares, Vodafone rose 0.9 percent, building
on gains in the previous session, when Deutsche Bank reiterated
its "buy" rating.
                                
 
                                
 VODAFONE, WHITBREAD RISE
                                
 Whitbread <WTB.L>, Britain's biggest hotel and restaurant
operator, rose 3.1 percent after reporting a
better-than-expected first-half pretax profit after sales at its
Costa Coffee chain rose by over 20 percent. [ID:nLC355283]
                                
 Across Europe, Britain's FTSE 100 <.FTSE>, Germany's DAX
<.GDAXI> and France's CAC-40 <.FCHI> fell between 0.2 and 0.3
percent, following a 0.6 percent higher close for Japan's
benchmark Nikkei 225 <.N225> on Tuesday.
                                
 Looking ahead, investors are expected to study Germany's ZEW
Index, due at 0900 GMT, while later in the day focus will turn
to fresh earnings reports from the United States.
                                
 Earnings were due later from Johnson & Johnson <JNJ.N> and,
after the market closes, from Intel Corp <INTC.O>.
                                
 Bellwethers to report later in the week include Citigroup
<C.N>, Bank of America <BAC.N>, Goldman Sachs <GS.N>, JPMorgan
<JPM.N>, Google <GOOG.O> and General Electric <GE.N>.
  (Editing by Simon Jessop)