REFILE-European stocks sag as oil hurdles $130; UBS falls

(Corrects typographical error in word "heavyweights" in paragraph 2)

PARIS, May 21 (Reuters) - European stocks ended lower on Wednesday, adding to the previous day's sharp losses as oil rose 2 percent to a fresh record high past $132, heightening inflation fears and concerns over the outlook for corporate profits.

But oil heavyweights such as BP (BP.L: Quote, Profile, Research, Stock Buzz) and Royal Dutch Shell (RDSa.L: Quote, Profile, Research, Stock Buzz) helped cushion the market's fall. BP gained 3.2 percent while Royal Dutch Shell surged 4.5 percent.

Banks dropped, with Swiss lender UBS (UBSN.VX: Quote, Profile, Research, Stock Buzz) falling 3.5 percent, hit by worries over the size of its planned rights issue.

The FTSEurofirst 300 index of top European shares unofficially closed 0.8 percent lower at 1,339.78 points, its lowest close since May 1.

"The recent acceleration in the rise of oil prices will have a strong impact on stocks at some point, and we're already seeing profit warnings from companies that are big consumers of commodities and energy," said Emmanuel Morano, head of equity management at La Francaise des Placements, in Paris.

(Reporting by Blaise Robinson)