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* FTSEurofirst 300 down 0.5 percent
* BBVA, Airbus lower after disappointing results
* But Deutsche Bank rises on surprise profit
MILAN, April 28 (Reuters) - European shares fell on Thursday after the Bank of Japan unexpectedly held off from expanding monetary stimulus, impacting global equities, while BBVA and Airbus declined after their earnings updates.
BBVA was among the worst-performing stocks in Europe, dropping 6 percent after Spain's second-biggest lender missed estimates with a 54 percent fall in first quarter net profit.
Airbus also fell 4.6 percent after it reported a heavier-than-expected seasonal outflow of cash and warned of serious challenges for its A400M military plane.
The pan-European FTSEurofirst 300 index was down 0.5 percent by 0726 GMT, while the euro zone's blue-chip Euro STOXX 50 index < .STOXX50E> dropped 0.6 percent.
European stocks tracked a pullback on several other major global stock markets after the BOJ's move, which offset earlier momentum on world markets after fears had eased that the U.S. Federal Reserve would strongly signal it would raise interest rates in June.
Among the top performers, Deutsche Bank rose 4.7 percent after it posted a surprise net profit in the first quarter. (Reporting by Danilo Masoni; Editing by Sudip Kar-Gupta)