Commodities pull down European shares; UK defence stocks rise
* Pan-European index down 0.5 pct
* Commodities, energy plays main fallers on demand worries
* UK defence stocks rise on military spending plans
* Italian lenders up after launch of rescue fund
* Bank of Ireland among top risers (Adds detail, quote)
By Danilo Masoni and Alistair Smout
MILAN/LONDON, Nov 23 (Reuters) - European shares fell on Monday as demand concerns weighed on commodities and energy stocks, but British defence plays such as Rolls Royce rose on plans to boost military spending.
The pan-European FTSEurofirst 300 was down 0.5 percent but off its initial lows thanks to stronger than expected business surveys, while the Euro STOXX 50 index was 0.3 percent lower.
Mining stocks fell 1.4 percent, the top sectoral faller, after metal prices dropped to multi-year lows on worries about Chinese demand, with a strong dollar also hindering prices. Continuación...