Europe shares fall; oils weigh after Chevron news

                                
 * FTSEurofirst 300 down 0.1 pct, after 0.8 pct gain on Thu
                                
 * Oil, gas producers take most points off the index
                                
 * Eyes on U.S. macroeconomic data later in the day
                                
 * For up-to-the-minute market news, click on [STXNEWS/EU]
                                
 
                                
 By Christoph Steitz
                                
 FRANKFURT, July 10 (Reuters) - European shares fell on
Friday, with oil producers leading the losers following negative
statements from Chevron <CVX.N>, the second-largest U.S. oil
company, that refuelled fears about company earnings.
                                
 At 0818 GMT, the FTSEurofirst 300 <.FTEU3> index of top
European shares was down 0.1 percent at 822.56 points after
gaining 0.8 percent on Thursday. The pan-European index has
fallen 7.6 percent since June 10 after rallying 38 percent from
a record low hit on March 9.
                                
 "There is a lack of impulse, full stop," said Giuseppe-Guido
Amato, strategist at brokerage Lang & Schwarz in Germany.
                                
 "Of course, the Chevron news is slightly negative, but only
for the sector," he said, adding that lower oil prices also
weighed.
                                
 Chevron Corp late on Thursday warned that second-quarter
earnings would be hit by a sharp decline in U.S. refining
margins, sending its shares down in extended trading
[ID:nLA304080]. Its shares in Frankfurt <CVX.F> were down 1.3
percent.
                                
 Oil and gas stocks took most points off the FTSEurofirst
300, and the DJ Stoxx Oil & Gas Index <.SXEP> was down 0.3
percent, while crude oil <CLc1> dropped 0.5 percent.
                                
 Royal Dutch Shell <RDSa.AS>, BP <BP.L> and BG Group <BG.L>
were down between 0.2 and 0.7 percent.
                                
 Around Europe, UK's FTSE 100 index <.FTSE> was down 0.3
percent, Germany's DAX index <.GDAXI> fell 0.03 percent and
France's CAC 40 <.FCHI> eased 0.3 percent.
                                
 
                                
 FOCUS ON U.S. DATA
                                
 Shares in German chipmaker Infineon <IFXGn.DE> rose 5.4
percent after falling as much as 5.2 percent earlier, as the
company said it is planning a rights issue, while Apollo
Management LP [APOLO.UL] is to take a stake in the company.
[ID:nWEA0423]
                                
 "Given the increasing uncertainty about Infineon's, and
especially Apollo's, agenda we recommend staying on the
sidelines," Commerzbank wrote in a note to clients.
                                
 Anglo-Australian miner Rio Tinto <RIO.L> fell 1.2 percent.
Chinese security officials accused four detained staff of the
company of bribery on Friday. [ID:nSP464661]
                                
 The DJ Telcom Index <.SXKP> dropped 0.3 percent, with
Telekom Austria <TELA.VI> falling 2.2 percent, as UBS pointed to
uncertainty about its outlook for the current year following an
interview with the company's chief executive. [ID:nLA411217]
                                
 Later in the day, investors will be focus on U.S.
macroeconomic data, with trade data due at 1230 GMT.
                                
 "The trade deficit improvement should have come to a halt in
May, due to higher commodity prices and a likely end to the
destocking process," UniCredit wrote in a note.
                                
 "The deficit probably increased to $32 billion vs $29.2
billion," it added.
 (Additional reporting by Boris Groendahl in Vienna; Editing by
Hans Peters)