3 MIN. DE LECTURA
(Adds closing levels)
* FTSEurofirst 300 down 0.2 pct, trims Thursday's gains
* Abengoa plummets on confusion about debt guarantees
* M&A speculation lifts recently hammered oil services
PARIS, Nov 14 (Reuters) - European stocks dipped on Friday, erasing most of the previous session's gains, with mining shares pressured by falling metal prices on worries over the pace of Chinese economic growth.
Telecom gear maker Nokia fell 5.5 percent, with traders citing disappointment over the group's updated profit margin targets.
The biggest loser, however, was Spain's renewable energy firm Abengoa, tumbling 37 percent, hurt by investor confusion over the garantees of one of the firm's bonds.
The stock's sell-off started on Thursday when Abengoa's management said debt raised by its Abengoa Greenfield unit would be accounted for as 'non-recourse', contrary to what debtholders had thought. The confusion over the classification of the company's non-recourse debt was adding to recent investor complaints about transparency at Abengoa.
The FTSEurofirst 300 index of top European shares ended 0.2 percent lower, at 1,344.26 points.
Miner Anglo American fell 0.4 percent and peer BHP Billiton shed 0.3 percent, dragged down by further weakness in copper prices. The STOXX 600 basic resources sector index has tumbled 15 percent in the past four months.
European stocks had inched higher in early trade after data showed Germany narrowly avoided recession in the third quarter and France grew more than expected.
"Overall, Europe's economic environment remains sluggish, and we have to be extremely cautious in our scenario for the outlook of company results," Cholet Dupont strategist Vincent Guenzi said.
Shares in recently hammered oil services companies bucked the trend, with Fugro jumping 21 percent and CGG adding 2.6 percent, boosted by speculation of M&A in the battered sector.
"With the recent drop in oil prices and the postponement of major projects, the idea of a wave of consolidation in the sector is gaining traction," a Paris-based trader said.
Europe bourses in 2014: link.reuters.com/pap87v
Asset performance in 2014: link.reuters.com/gap87v
Today's European research round-up (Reporting by Blaise Robinson; Additional reporting by Alexandre Boksenbaum-Granier; Editing by Susan Fenton)