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* FTSEurofirst 300, STOXX 600 down 0.2 pct
* U.S. jobs data disappoint
* Accor up on report Jin Jiang plans to hike stake
* Banco Popolare shares touch fresh record lows
By Atul Prakash
LONDON, June 3 (Reuters) - European shares fell on Friday, reversing earlier gains after weaker-than-expected U.S. jobs data, while Accor soared on reported plans by a Chinese firm to raise its stake in the hotel group.
The U.S. economy created the fewest number of jobs in more than five years in May, suggesting weakness in the labour market that could make it hard for the Federal Reserve to raise U.S. interest rates.
The FTSEurofirst 300 was down 0.2 percent by 1240 GMT, after rising around 0.7 percent earlier in the session. The index was down 1.6 percent for the week; it had gained for the previous three weeks running. The STOXX Europe 600 index was also down 0.2 percent.
"The US non-farm payroll data was crazy and completely unbelievable and this is the last set of important data before the Fed meeting," said Naeem Aslam, chief market analyst at Think Forex.
Europe's auto sector index fell 1.6 percent, making it the worst-performing sector as the euro gained against the dollar after the disappointing U.S data. A stronger euro is a disadvantage for the export-oriented sector.
Banks followed with a 1.3 percent drop.
Accor shares rose 5.2 percent, remaining the top gainer on the FTSEurofirst. French newspaper Le Figaro reported that Jin Jiang was considering increasing its Accor holding to 29 percent. Accor declined to comment.
Commodities stocks were in demand, with the European basic resources index rising 0.9 percent, as metal prices rose.
Airbus fell 3.4 percent, the top decliner in the FTSEurofirst 300 index, after Qatar Airways cancelled its first Airbus A320neo jet due to delays in deliveries.
Banco Popolare fell as much as 5.8 percent to touch a record low after Italy's fourth-largest bank priced its 1 billion euros rights issue.
Today's European research round-up
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Mike Dolan, Markets Editor EMEA. (Additional reporting by Danilo Masoni in Milan; Editing by Larry King)