Miners drag European shares after strong China data

* FTSEurofirst 300 falls 0.1 pct; extends Wednesday's losses

* Miners among top decliners on Chinese economic numbers

* For up-to-the-minute market news, click on [STXNEWS/EU]

By Atul Prakash

LONDON, Jan 20 (Reuters) - European equities inched lower on Thursday, pressured by miners, as stronger-than-expected Chinese growth and inflation figures raised worries about further tightening from the world's top commodity consumer.

Miners were among the top decliners, with the STOXX Europe 600 Basic Materials index <.SXPP> falling 0.9 percent and Anglo American <AAL.L> down 1.8 percent.

At 0927 GMT, the FTSEurofirst 300 <.FTEU3> index of top European shares was down 0.1 percent at 1,151.19 points after falling 1.3 percent to its lowest close in more than a week in the previous session.

"A lot of Asian economies, and especially China, are overheating. People have invested heavily in commodity shares and any disappointing news might provoke a... correction," said Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets in Brussels.

China, the world's second-biggest economy, is expected to focus on controlling inflation through tighter monetary policies after its economy maintained a strong growth momentum in the fourth quarter and inflation slowed less than expected. [ID:nTOE70J02S]

Financial shares, however, recovered after losses in the previous session. The STOXX Europe 600 banking index <.SX7P> rose 0.7 percent, while Unicredit <CRDI.MI>, Bankinter <BKT.MC> and Dexia <DEXI.BR> rose 2.3 to 2.8 percent.

Across Europe, Britain's FTSE 100 <.FTSE>, Germany's DAX <.GDAXI> and France's CAC 40 <.FCHI> fell 0.1 to 0.8 percent. Ireland's ISEQ <.ISEQ> fell 0.9 percent, Spain's IBEX <.IBEX>, gained 0.8 percent and Italy's FTSE MIB <.FTMIB> was up 0.8 percent.

DEBT CRISIS

Investors kept an eye on the euro zone debt crisis. The chief of the European rescue fund Klaus Regling told Deutschlandfunk German radio that Greece does not need a restructuring of debt and the rescue fund currently needs no expansion.

"Sovereign debt is like the tide on the beach. You feel happy when the water has receded and left you safe, but you know that the tide is going to come back in," the head of dealing at a leading London-based stockbroker said.

Associated British Foods <ABF.L> fell 2.3 percent as the company said further growth this year may be limited by the effects of rising commodity costs as it reported a 10 percent rise in first-quarter sales led by its Primark discount fashion retailer. [ID:nLDE70I1DV]

"In all, whilst the group detailed a record full year performance only back in November, headwinds appear to be building," said Keith Bowman, equity analyst at Hargreaves Lansdown.

Man Group <EMG.L> fell 4.1 percent. It saw $1 billion of net client outflows in its third quarter, confounding hopes that its recent purchase of rival GLG would reverse the fortunes of the world's largest listed hedge fund manager. [ID:nLDE70I257]

BHP Billiton <BLT.L> fell 1.3 percent on weaker metals prices and after the company said eastern Australia's devastating floods will hit production and sales at its coal mining operations for at least six more months. [ID:nL3E7CJ1WY] (Editing by Mike Nesbit)