* FTSEurofirst 300 index down 0.2 percent
* Banks slip; commods fall as crude, metal prices retreat
* For up-to-the minute market news, click on []
By Joanne Frearson
LONDON, April 13 (Reuters) - European shares fell on
Tuesday, ahead of key U.S. earnings news, with banking stocks
under pressure and commodities lower as crude <CLc1> and gold
<XAU=> prices slipped.
Luxury good retailers, however, gained.
By 0822 GMT, the pan-European FTSEurofirst 300 <>
index of top shares was down 0.2 percent at 1,099.69 points. The
index is up around 70 percent since reaching a lifetime low in
early March 2009.
The banking sector featured among the worst performers,
retreating from gains in the previous session. Deutsche Bank
<DBKGn.DE>, BNP Paribas <BNPP.PA>, Societe Generale <SOGN.PA>
and Lloyds Banking Group <LLOY.L> lost 0.4 to 0.7 percent.
Investors kept a close eye on Greece, which will sell 1.2
billion euros ($1.63 billion) of bills, testing market appetite
two days after euro zone members agreed to provide a 30 billion
euro standby aid package for the debt-ridden country. Results
are expected after 0900 GMT.
The market was cautious ahead of U.S. earnings news.
"Asian markets were lower and we are waiting for more
earnings releases," said Giuseppe-Guido Amato, strategist at
Lang & Schwarz in Frankfurt.
"I think we have run too far too fast. We have been at high
levels so we have to be careful and wait and see."
After the U.S. market close on Monday, Alcoa <AA.N> kicked
off the earnings reporting period, posting its fifth net loss in
the past six quarters, but when charges were excluded its
earnings matched Wall Street estimates, although revenue was
below forecasts. []
MINERS SLIP
Miners fell for the second consecutive session as gold <XAU=>
edged lower, retreating from a four-month high on Monday.
Antofagasta <ANTO.L>, BHP Billiton <BLT.L>, Rio Tinto <RIO.L>
and Xstrata <XTA.L> slipped 0.8 to 1.6 percent.
Energy stocks also retreated for the second day as oil fell
for a fifth-straight session to under $84 a barrel, as a
forecast increase in U.S. crude inventories fanned concern about
excess supplies and sluggish demand growth.
BG Group <BG.L>, Royal Dutch Shell <RDSa.L> and Total
<TOTF.PA> were down 0.2 to 0.7 percent.
Looking at individual stocks, Dutch brewer Heineken
<HEIN.AS> fell 2.5 percent after JPMorgan Cazenove cut its
rating on the stock to "underperform" from "neutral" and its
price target to 37.50 euros from 40 euros.
On the upside, the world's largest luxury good maker LVMH
<LVMH.PA> rose 3.2 percent, hitting its highest level since Sept
2000, after it reported forecast-beating comparable sales growth
for the first-quarter. []
Telecom Italia <TLIT.MI> gained 3.2 percent. The company cut
its medium-term revenue growth target and said it planned to
make greater savings to reduce its 34 billion euro ($46 billion)
debt pile, which has held back investments. []
Investors will watch a slew of earnings news this week.
Tech bellwether Intel Corp <INTC.O> is due to report earnings on
Tuesday, with other companies scheduled to report this week
including Google <GOOG.O>, General Electric <GE.N>, and JPMorgan
Chase <JPM.N>.
Across Europe, the FTSE 100 <> index was down 0.1
percent, Germany's DAX <> fell 0.2 percent and France's
CAC 40 <> was 0.1 percent lower.
(Reporting by Joanne Frearson; Editing by Rupert Winchester)
