Europe stocks fall further after Wachovia results

PARIS, July 22 (Reuters) - European stocks added to their losses around midday on Tuesday after U.S. bank Wachovia Corp WB.N posted an $8.86 billion second-quarter loss and slashed its dividend for a second time this year.

"(Wachovia's results) were far, far worse than expected and that seems to have given equities a bit of a knock lower and the yen a bit of a boost," said Adam Cole, global head of FX strategy at RBC Capital Markets.

At 1113 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 2 percent at 1,147.18 points.

Banks were being hammered, with Royal Bank of Scotland (RBS.L) down 6 percent and Credit Agricole (CAGR.PA) down 5.4 percent.

Telecom stocks were among the biggest losers, with Vodafone (VOD.L) sinking 15 percent after warning on its revenue outlook.

(Reporting by Blaise Robinson and Toni Vorobyova)