Europe shares fall early; banks, commodities slip

* FTSEurofirst 300 index falls 1.8 pct

* Banks take most points off index

* Oils slip on lower crude

By Brian Gorman

LONDON, July 6 (Reuters) - European shares fell to a seven-week low on Monday, on worries that economic recovery may still be some way off, with energy companies and banks leading the fallers, and ahead of the start of second-quarter earnings.

At 0810 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 1.8 percent at 827.58 points, after falling as far as 827.00, its lowest level since May 14.

The European benchmark index is up more than 28 percent from its lifetime low of March 9. However, it has fallen for three straight weeks, with some analysts saying it has risen too fast, relative to the tangible evidence of economic recovery.

The heavyweight banking sector took most points off the index. BNP Paribas (BNPP.PA), Banco Santander (SAN.MC), Credit Suisse (CSGN.VX) and HSBC (HSBA.L) were down between 0.9 and 1 percent.

"There's a feeling corporate results are still going to be poor," said Justin Urquhart-Stewart, investment director at Seven Investment Management, in London.

"People are asking where the growth is going to come from. They're looking at data and noticing it's still getting worse," though not at the same rate as before, he added.

Worries on lower demand pushed commodity prices lower. Crude prices CLc1 fell more than 4 percent to below $64 a barrel. Total (TOTF.PA), ENI (ENI.MI), BP (BP.L) and Royal Dutch Shell (RDSa.L) dropped between 2.5 and 3 percent.

Copper and other metals also fell. Anglo American (AAL.L), Antofagasta (ANTO.L), BHP Billiton (BLT.L), Lonmin (LMI.L), Rio Tinto (RIO.L), Vedanta Resources (VED.L), Xstrata (XTA.L) fell between 2 and 4.7 percent.

BASF (BASF.DE) RISES

Chemicals giant BASF (BASF.DE) was one of a only a handful of heavyweight stocks to rise, up 0.4 percent, after Banc of America-Merrill Lynch upgraded it to "buy" from "neutral".