Carrefour drags Europe stocks lower, banks slide

LONDON, July 10 (Reuters) - European shares fell in midday trade on Thursday with retailers and food producers dropping after another disappointing update from France's Carrefour (CARR.PA: Quote, Profile, Research) and as banks remained under pressure.

By 1114 GMT, the FTSEurofirst 300 index of top European shares was down 1.4 percent at 1,164.78, erasing most of Wednesday's 1.7 percent gain.

The financial sector came under pressure as investors stuck to the sidelines following a jittery U.S. session amid ongoing concern over economic growth and the implications of the credit crunch for corporate profitability.