* FTSEurofirst 300 index up 0.04 pct
* Nestle, ING fall after results
* E.ON gains after earnings beat forecasts
By Joanne Frearson
LONDON, Aug 12 (Reuters) - European shares were flat in early trade on Wednesday, with gains in the utility sector offsetting falls in financials and food producers, as investors awaited the outcome of the U.S. Federal Reserve's meeting.
By 0909 GMT, the FTSEurofirst 300 <.FTEU3> index of top European shares was up 0.04 percent at 932.87 points, having been down as low as 924.30 points earlier. The pan-European index has surged 43 percent since hitting a floor in early March.
"The market is all looking a bit tired today. It has had a very good run now and it is now time to take stock. We are getting closer to September which is traditionally one of the worst months for the market, so maybe investors are thinking about that," said Howard Wheeldon, strategist at BGC Partners.
Financials were heavyweight losers on the index. Dutch
bancassurer ING Groep
Finnish insurance company Sampo
In the banking sector, HSBC
Food producers were in the doldrums. Nestle
BHP BILLITON FALLS
Miners were lower as copper
BHP Billiton
However, energy stocks gained as crude prices
E.ON
Later on investors will focus on the outcome of the Fed's policy-setting committee meeting at 1815 GMT, which is seen holding its benchmark overnight rate in a range of zero to 0.25 percent.
"I don't think you are going to get anything negative out of the Fed today. What you want to see is a central bank that is not going to take any risks on the deflationary side and withdraw policy earlier," said Bernard McAlinden, strategist at NCB Stockbrokers.
"As long as you see the Fed in that mode, it will be good," he said.
Across Europe, the FTSE 100 <.FTSE> index was down 0.1 percent, Germany's DAX <.GDAXI> was up 0.3 percent and France's CAC 40 <.FCHI> was 0.03 percent higher.
Elsewhere, Chinese stocks sank 4.7 percent to their lowest close in four weeks, while Japan's Nikkei average <.N225> slipped 1.4 percent retreating from a 10-month high. [ID:nLC473427] [ID:nT50222] (Editing by Hans Peters)