REFILE-Libya eyes European, US equities after price drop

(Corrects in headline to "Libya" from "Libyan")

CAIRO Oct 23 (Reuters) - The $65 billion Libyan Investment Authority is looking to invest in European and U.S. equities to diversify its portfolio after recent market declines.

"We want to diversify, number one in Europe, number two in the United States, and then in emerging market economies," said Farhat Bin Guidara, governor of the Central Bank of Libya and a member of the board of the state's investment authority.

"We are going more towards (sectors) ... such as pharmaceuticals, telecoms, utilities and food manufacture," he told reporters on the sidelines of a conference in Cairo on Thursday. (Reporting by William Rasmussen; Writing by Jonathan Wright; Editing by David Holmes)