UPDATE 1-Europe shares sag on China worries, mixed earnings
* FTSEurofirst 300 down 1.1 pct, Euro STOXX 50 down 1 pct
* Investors book profits after 10 pct rally in a month
* Miners back in bear market territory
PARIS, July 25 (Reuters) - European shares fell on Thursday as a raft of mixed results from blue chips and lingering concerns about the pace of growth in China triggered a bout of profit taking following recent sharp gains.
At 1054 GMT, the FTSEurofirst 300 index of top European shares was down 1.1 percent at 1,201.39 points, slipping from an eight-week high hit in the previous session.
The euro zone's blue-chip Euro STOXX 50 index was down 1 percent at 2,724.55 points. Both benchmark indexes had gained around 10 percent over the past month.
Mining shares were the biggest losers - with Anglo American falling 3.3 percent and Rio Tinto losing 2.4 percent - as mounting worries about China following poor manufacturing data halted the sector's recent recovery rally.
The STOXX Europe 600 basic resources index, down 2.4 percent on Thursday, has slipped more than 20 percent this year, considered a bear market milestone.
"We're seeing people booking profits today, particularly on companies which have missed targets or have a strong exposure to China, but it's not a bad thing considering the rally we've had over the past month," Montaigne Capital fund manager Arnaud Scarpaci said.
"With a bit of protection, this pull-back isn't too scary. I've been selling futures on the Euro STOXX 50 as a hedge for the stock portfolio, which helps absorb these kinds of shocks. The longer-term trend is still positive."
The world's No. 1 chemicals group BASF tumbled 4.5 percent after warning on its 2013 profit outlook.
Unilever fell 2 percent after the consumer goods giant reported lower-than-expected sales and warned that growth was slowing in emerging markets.
About 23 percent of the STOXX Europe 600 companies have reported second-quarter results so far this earnings season, with 51 percent of the firms meeting or beating profit forecasts, according to Thomson Reuters StarMine data. On revenues, 63 percent of the firms have met or beaten forecasts.
"Overall, the earnings season isn't too bad, but there's a lot of nervousness on the market after the 10 percent rally we've just had, with very few buyers left," said Guillaume Dumans, co-ahead of 2Bremans, a Paris-based research firm using behavioural finance to monitor investor sentiment.
Around Europe, the UK's FTSE 100 index was down 1.1 percent, Germany's DAX index was down 1.2 percent, and France's CAC 40 was 1 percent lower.