REFILE-Europe stocks snap winning run, Vodafone hits telcos

* FTSEurofirst 300 snaps 4-day winning run, down 1.6 pct

* Telecoms tumble after Vodafone warns on revenue

* Dexia loses 10 pct after Moody's warning on U.S. unit

(Refile to fix typo in headline, winning not wining)

By Blaise Robinson

PARIS, July 22 (Reuters) - European stocks fell by midday on Tuesday, snapping a four-session winning run as techs and telecoms tumbled on Vodafone's (VOD.L) revenue warning and the poor outlook from Texas Instruments TXN.N and Apple (AAPL.O).

Worse-than-expected quarterly figures from U.S. bank Wachovia WB.N revived fears over banks' balance sheets and weighed on European banking shares. Royal Bank of Scotland (RBS.L) fell 6 percent, Credit Agricole (CAGR.PA) lost 5 percent and BBVA (BBVA.MC) shed 3 percent.

"(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 1154 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 1.7 percent at 1,150.29 points.

Shares in Vodafone (VOD.L), the world's largest mobile phone company by revenue, shed 14 percent after it lowered its outlook for full-year revenue to around the bottom of a previously forecast range.

The warning hit telecoms stocks, with the DJ Stoxx telecom sector .SXKP falling 8 percent. Telefonica (TEF.MC) shed 7.5 percent, Deutsche Telekom (DTEGn.DE) lost 6.2 percent and France Telecom (FTE.PA) fell 4.3 percent.

Tech shares were also on the downside, hit by disappointing U.S. corporate results. Alcatel-Lucent (ALUA.PA) shed 4 percent, ASML (ASML.AS) lost 5 percent, while both Infineon (IFXGn.DE) and Ericsson (ERICb.ST) tumbled 9.3 percent.

Also among the biggest losers, Dexia DEXI.PA sank 12 percent after Moody's Investors Service said it might cut its top rating for Dexia's U.S. bond insurance division Financial Security Assurance. "For investors who are short Dexia we recommend they stay short," JPMorgan analysts wrote in a note.

"We would not be prepared to change our stance until there is more visibility on potential credit losses and/or a potential rights issue has materialised," they said, having downgraded their rating on the stock to "underweight" from "neutral".

But the market fall was cushioned by buoyant energy shares, which added to recent gains as oil hovered above $130 a barrel.

Both Total (TOTF.PA) and BP (BP.L) rose 2.7 percent, while Royal Dutch Shell (RDSa.L) gained 1.6 percent and Repsol (REP.MC) added 1.1 percent.

European chemical stocks were also firmer, after U.S. firm DuPont (DD.N) reported rising profit in the second quarter thanks to its agricultural segment.

Shares in BASF BASF.DE gained 1.1 percent and Bayer BAYG.DE rose 0.6 percent.

Dutch navigation device maker TomTom (TOM2.AS) surged 12.5 percent after the company pleased investors with better-than-expected second quarter results.

Around Europe, Germany's DAX index .GDAXI was down 1.3 percent, UK's FTSE 100 index .FTSE down 1.9 percent and France's CAC 40 .FCHI down 1.2 percent.

(Additional reporting by Toni Vorobyova in London; Editing by David Cowell)