Europe shares fall as China woes overshadow Q2 earnings
* FTSEurofirst 300 down 1.3 pct
* Valeo sinks 3.7 pct despite guidance upgrade
* Ifo indicator slightly ahead of forecasts
* Mining-sector rebound supports UK stocks
* JPMorgan stays overweight Europe equities
By Lionel Laurent
LONDON, July 27 (Reuters) - European equities started the week on a downbeat note, heading for their fifth straight daily fall, with worries over China's growth prospects overshadowing some forecast-beating corporate results.
Although a slightly better-than-expected July reading from the German IFO business climate index helped ease some of the sell-off, market tremors rippled through the region after Chinese stocks suffered their biggest one-day loss in eight years and broader Asian markets fell more than 1 percent.
The FTSEurofirst 300 index was down 1.3 percent at 0807 GMT, with benchmark indexes in Paris and Frankfurt broadly in line. UK stocks outperformed slightly, with the battered mining sector staging a rebound after a volatile week despite metals prices languishing near multi-year lows. Continuación...