China data drags European shares from 2-yr high

                                
 * FTSEurofirst 300 index down 0.3 percent
                                
 * Miners, oils slip on China import data
                                
 * Delhaize gains on forecast beating Q3 results
                                
 * For up-to-the minute market news, click on [STXNEWS/EU]
                                
 By Joanne Frearson
                                
 LONDON, Nov 10 (Reuters) - European shares fell on Wednesday
from two-year highs after weak Chinese import data suggested the
commodity sector could be facing a slowdown, with miners and
oils featuring among the biggest fallers.
                                
 By 1018 GMT, the pan-European FTSEurofirst 300 <.FTEU3>
index of top shares was down 0.3 percent at 1,113.61 points
after hitting its highest close since September 2008.
                                
 "Growth in China imports has slowed down, that will be a bit
of a concern for the market," Heino Ruland, strategist at Ruland
Research in Frankfurt, said.
                                
 Commodity stocks slipped from strong gains in the previous
session after China's copper imports fell to their lowest level
for a year and oil shipments were down 30 percent.
                                
 Miners Antofagasta <ANTO.L>, Rio Tinto <RIO.L> and Xstrata
<XTA.L> were down 1 to 1.8 percent, while oil stocks BP <BP.L>,
BG Group <BG.L> and Total <TOTF.PA> lost 0.8 to 1.4 percent.
                                
 Other China news hurting market sentiment included sources
saying that the Chinese central bank had increased its required
reserves for its biggest banks in a bid to curb inflation.
[ID:nSGE6A9091]
                                
 
                                
 BOE EYED
                                
 Investors will be watching the Bank of England inflation
report, with economists expecting the BoE's short-term growth
and inflation projections, released at 1030 GMT, to be revised
up from their August paths, due to recent above-forecast GDP and
CPI outturns.
                                
 "There have been rumours that the BoE could revise interest
rate up quicker than expected ... if this happens then the
market could sell off further," Mark Priest, senior equities
trader at ETX Capital, said.
                                
 Banks were on the downside after downbeat earnings news.
French bank Natixis <CNAT.PA> dropped 8.9 percent after
third-quarter profits missed forecasts. [ID:nLDE6A80ZU

                                
 UniCredit SpA <CRDI.MI> lost 1.8 percent, after Italy's top
bank's third-quarter net profit fell short of forecasts leaving
its prospects uncertain. [ID:nLDE6A81VJ]
                                
 However, not all earnings news disappointed. Belgian
supermarket group Delhaize <DELB.BR> jumped 6.1 percent after
third-quarter operating profits beat expectations.
[ID:nLDE6A70AA]
                                
 German consumer goods group Henkel <HNKG_p.DE>, gained 7
percent after the maker of Persil detergents raised its 2010
outlook and adjusted EBIT for the third-quarter beat
expectations. [ID:nLDE6A90B5]
                                
 British utility Scottish and Southern Energy <SSE.L> rose 5
percent after it said it was raising its dividend this year.
                                
 "Earnings have been better than expected and any dip could
be a buying opportunity," Ruland said.
                                
 Across Europe, the FTSE 100 <.FTSE> index was down 0.3
percent, Germany's DAX <.GDAXI> was 0.3 percent lower and
France's CAC 40 <.FCHI> was down 0.5 percent.
 (Reporting by Joanne Frearson; Editing by Hans Peters)
 (joanne.frearson@thomsonreuters.com; +44 207 542 2773, Reuters
Messaging:joanne.frearson.thomsonreuters.com@reuters.net))