REFILE-European shares flat on Lehman anniversary

                                
 (Corrects spelling of anniversary in headline)
                                
 * FTSEurofirst 300 gains 0.02 pct
                                
 * Tech stocks add most points; oil and gas stocks weigh
                                
 * Focus on macro data
                                
 * For up-to-the-minute market news, click on [STXNEWS/EU]
                                
 
                                
 By Christoph Steitz
                                
 FRANKFURT, Sept 15 (Reuters) - European shares were flat on
Tuesday as gains in technology stocks were offset by losses in
oil and gas stocks on the day marking the one-year anniversary
of the Lehman Brothers collapse.
                                
 At 0852 GMT, the FTSEurofirst 300 <.FTEU3> index of top
European shares was up 0.02 percent at 991.04 points after
briefly turning negative.
                                
 The index has gained 19 percent in 2009, soaring 54 percent
since hitting a record-low in March, but is still down about 15
percent from its level in mid-September 2008 before the collapse
of Lehman Brothers, once the fourth-largest U.S. investment
bank.
                                
 "Generally, the recovery has been a bit quick and valuations
are no longer attractive but have rather become appropriate,"
Commerzbank's chief strategist, Hans-Juergen Delp, said.
                                
 Technology stocks added the most points to the pan-European
index, with Alcatel-Lucent <ALUA.PA>, Infineon <IFXGn.DE> and
Ericsson <ERICb.ST> up 0.8 to 3.1 percent.
                                
 "Still, recent remarks have highlighted that the banking
crisis is not over yet," Delp said.
                                
 U.S. President Barack Obama warned financial firms on Monday
to heed the lessons of Lehman Brothers' collapse on Sept. 15,
2008, adding that signs of an economic recovery were not an
excuse to avoid reform. [ID:nLF294978]
                                
 Oil and gas stocks took most points off the index with BP
<BP.L>, Royal Dutch Shell <RDSa.AS> and Tullow Oil <TLW.L> down
0.7 to 0.9 percent.
                                
 
                                
 BANKS DOWN, MACRO DATA EYED
                                
 Banks also fell, with the DJ STOXX European Banks Index
<.SX7P> down 0.1 percent, while BNP Paribas <BNPP.PA>, Credit
Suisse <CSGN.VX> and HSBC <HSBA.L> were down between 0.2 and 0.4
percent.
                                
 European car stocks <.SXAP> were the second-biggest sectoral
decliners, down 0.5 percent. BMW <BMWG.DE>, Daimler <DAIGn.DE>
and Peugeot <PEUP.PA> were all down 0.4 to 1.4 percent amid the
Frankfurt Auto Show.
                                
 Shares in K+S <SDFG.DE> declined 1.2 percent, as traders
pointed to pressure from an interview with CEO Norbert Steiner,
saying shortened work hours for employees are likely to continue
for K+S workers.
                                
 "The comments are basically a reiteration but reinforce the
opinion that potash demand will likely stay muted," says a
Frankfurt-based trader.
                                
 Later in the day, investors will focus on macroeconomic data
such as Germany's ZEW economic sentiment due at 0900 GMT and
U.S. retail sales PPI at 1230 GMT.
                                
 "If positive, as is expected, the data will underline the
positive market trend," Commerzbank's Delp said.
                                
 Across Europe, Britain's FTSE 100 <.FTSE> was 0.01 percent
lower, Germany's DAX <.GDAXI> fell 0.1 percent and France's CAC
40 <.FCHI> gained 0.2 percent.
 (Additional reporting by Tyler Sitte in Frankfurt; Editing by
Hans Peters)