European shares break winning streak; miners fall

                                
 * FTSEurofirst 300 falls 0.3 percent
                                
 * Miners give back gains
                                
 * Autos rise on broker upgrades
                                
 
                                
 By Brian Gorman
                                
 LONDON, Sept 9 (Reuters) - European shares fell in early
trade on Wednesday, slipping back from their highest close in
nearly 11 months, tracking a decline in Asia and as metals
prices weighed on mining stocks.
                                
 At 0846 GMT, the FTSEurofirst 300 <.FTEU3> index of top
European shares was down 0.3 percent at 974.95 points, after
rising for three days.
                                
 The European benchmark index approached its highest close in
11 months on Tuesday, and is up 51 percent from its lifetime low
of March 9, as investors have become more confident on the
prospects for economic recovery.
                                
 Miners gave back some of Tuesday's gains, as gold prices
<XAU=> slipped below $1,000 an ounce, and copper prices were
also weaker.
                                
 Antofagasta <ANTO.L>, Lonmin <LMI.L>, Rio Tinto <RIO.L> and
Vedanta Resources <VED.L> were down between 0.8 and 4.4 percent.
                                
 "Markets are testing the post-recovery highs. Some say the
bigger picture looks fine. The economy is getting better, not
worse, but there's not much today to drive the market higher,"
said Bernard McAlinden, investment strategist at NCB
Stockbrokers.
                                
 He said indicators related to U.S. consumers would continue
to be a key factor and added: "Some would say shares are looking
cheap. The bid for Cadbury proves that."
                                
 Most of the heavyweight banking sector was lower. Banco
Santander <SAN.MC>, UBS <UBSN.VX> and UniCredit <CRDI.MI> fell
between 1 and 1.9 percent.
                                
 However, Commerzbank <CBKG.DE> was up 2.2 percent, after its
chief executive said it would be profitable by 2011, perhaps
sooner. [ID:nWEA0060]
 
                                
 AUTOS RISE
                                
 Automakers were among sectors on the rise, on a raft of
broker upgrades. BMW <BMWG.DE> rose 3.9 percent after Morgan
Stanley and RBS both upgraded their stance, and Credit Suisse
raised its price target. [ID:nL9692409]
                                
 Renault <REN.PA> rose 3.5 percent after RBS raised its price
target. 
                                
 Oil prices <CLc1> hovered near $71 a barrel, ahead of an
OPEC meeting that is expected to keep output quotas unchanged.
                                
 Repsol <REP.MC> and BG Group <BG.L> were up 1.2 and 2
percent, respectively, after an oil and gas find at the Guara
oil field off the coast of Brazil. [ID:nL9685024]
                                
 Japan's benchmark Nikkei <.N225> closed 0.8 percent lower on
Wednesday, though China's <.SSEC> rose 0.5 percent, closing
higher for a seventh straight day.
 Across Europe, Britain's FTSE 100 <.FTSE>, Germany's DAX
<.GDAXI> and France's CAC-40 <.FCHI> fell 0.1-0.3 percent.
 Wall Street was set to fall, having closed higher on
Tuesday. Futures for the Dow Jones <DJc1>, S&P 500 <SPc1> and
Nasdaq <NDc1> were down between 0.5 and 0.6 percent.
 (Editing by Will Waterman)