(Refiles to correct typo in 2nd paragraph)
* MSCI world equity index up 0.3 percent at 263.72
* European stocks, U.S. stock futures slip after broad rally
* Dollar hits 2009 lows; oil lower
By Natsuko Waki
LONDON, July 28 (Reuters) - European stocks slipped while U.S. stock futures pointed to a weaker open on Wall Street on Tuesday after strong optimism over corporate earnings sent world stocks to fresh 9-month peaks.
BP's disappointing report of a halving in quarterly profits and Deutsche Bank's significant rise in loan provisions prompted investors to book profits after world stocks posted gains in 10 out of the past 11 sessions.
"We are seeing a bit of profit taking, which is not too surprising after the run we have had in the past two weeks," said Philippe Gijsels, strategist at Fortis Bank.
"Going forward I think people should remain cautious ... as everything we have seen in the past two weeks have been based on hopes of a recovery in the second half and that earnings will grow ... but I think the market may be disappointed."
The FTSEurofirst 300 index was down 0.1 percent after hitting its highest since November earlier.
Deutsche Bank fell more than 8 percent after its provisions for credit losses rose to 1 billion euros in the second quarter from 135 million euros a year earlier. U.S. stock futures were down around 0.4 percent.
Wall Street ended higher on Monday after data showed home sales surged in June, a sign that the domestic housing market -- which led the world's biggest economy into recession -- may have hit bottom and is starting to rebound. More housing data is due later.
MSCI world equity index was still up 0.3 percent, having hit its highest since October earlier. The index is up 7.6 percent this month and has risen nearly 16 percent since January.
"The rally witnessed over the last two weeks could, in fact, imply that the market is getting ahead of itself and discounting a profit rebound, but we believe the underlying cyclical rally ultimately will be durable," Bob Doll, global chief investment officer at BlackRock, said in a note to clients.
"The risks are that inflation expectations put Treasury yields and borrowing rates higher before the recovery gains traction, and that improving consumer spending contracts again next year after the impact of fiscal stimulus."
According to Thomson Reuters data, out of 202 firms on the S&P 500 index, 156 -- or 77 percent -- beat earnings expectations.
Emerging stocks rose 0.8 percent.
U.S. crude oil fell 0.1 percent to $68.31 a barrel.
The September bund futures rose 26 ticks as equities and other risky assets turned lower.
The dollar fell to its weakest level since December against a basket of major currencies while it hit eight-week lows of $1.4303 per euro.
The Australian dollar hit a 2009 high against the dollar and government bonds fell after the country's central bank governor Glenn Stevens said risks to the economy were now more balanced and warned that low interest rates could merely inflate a new housing bubble. (Additional reporting by Joanne Frearson; Editing by Andy Bruce)