* FTSEurofirst 300 index falls 0.6 percent
* Banks, miners reverse earlier gains after U.S. jobs data
* U.S. jobless rates jumps, payrolls barely rise
* For up-to-the minute market news, click on [STXNEWS/EU]
By Joanne Frearson
LONDON, Dec 3 (Reuters) - European shares fell on Friday as hopes cooled that economic recovery was gaining pace after U.S. job growth came in weaker than expected, with banks and miners featuring among the worst performers.
By 1413 GMT, the pan-European FTSEurofirst 300 .FTEU3 index of top shares was down 0.6 percent at 1,099.85 points, after being up as much as 1,111.31.
U.S. nonfarm payrolls rose 39,000, with private hiring gaining only 50,000, while the jobless rate jumped to 9.8 percent a seven-month high, the Labor Department said. [ID:nN02238002]
Economists had expected payrolls to increase 140,000 last month and the unemployment rate to be unchanged at 9.6 percent.
“It is clearly disappointing and a surprise as most people expected more. This demonstrates the U.S. economy remains mixed,” Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets, in Brussels, said.
“Markets are reacting negatively and I would not be surprised if equities remain down for the next couple of days.”
The banking sector, which is sensitive to changes in the economic environment, slipped back from earlier gains.
Technology stocks were one of the few sectors which remained in positive territory. STMicroelectronics STM.PA gained 4 percent after Exane upgraded the chipmaker to "outperform" from "neutral".