* FTSEurofirst 300 down 0.2 percent
* Banks fall on euro zone debt worries
* Mining shares gain as commodities prices rise
* Traders eye G20
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By Brian Gorman
LONDON, Nov 11 (Reuters) - European shares fell on Thursday with banks lower on renewed worries about debt levels in peripheral euro zone countries, notably Ireland, as world leaders gather for the G20 summit. At 1004 GMT, the FTSEurofirst 300 index of top European shares was down 0.2 percent at 1,107.23 points, after falling 0.7 percent in the previous session.
The European benchmark is up 71 percent from its lifetime low of March 2009, with several major economies having emerged from recession, helped by stimulus from governments and central banks worldwide. Bank of Ireland fell 8.9 percent. Its shares have lost more than 40 percent in the last month.
Royal Bank of Scotland fell 5 percent, with traders citing its exposure to Ireland. "Worries about Ireland, that is what is hitting (RBS) now," a London-based trader said.
Ireland's central bank governor said on Wednesday a huge bank recapitalisation programme had failed to reassure investors, as borrowing costs mounted along with concerns the government' new fiscal plan would not avert a bailout.
The premium investors demand to hold 10-year Irish government bonds rather than German benchmarks hit a euro era peak as investors fretted about Ireland's debt pile and its ability to fund itself.
Other banks to fall included Credit Agricole and UniCredit, down 2.3 percent and 2.1 percent respectively.
A deeply divided G20 has been struggling to move beyond broad promises of economic cooperation as world leaders gather in Seoul for a two-day summit dominated by tensions over foreign exchange rates and global imbalances.
"It is all eyes on South Korea. The G20 often has a negative effect (for equities), in that if there is no agreement, people think we are heading down the road of protectionism," Justin Urquhart Stewart, director at Seven Investment Management said.
"A positive move would be if people realise there are imbalances, and say they will work towards easing those."
TECHS FALL
Tech stocks fell, dragged down by the dismal outlook given by sector bellwether Cisco Systems. French telecom gear maker Alcatel-Lucent fell 2.7 percent. Cisco shares fell 13 percent after hours on Wednesday.
United Internet fell 9.4 percent, ahead of results due on Thursday.
Telefonica fell 1.5 percent after the Spanish telecoms heavyweight posted a lower-than-expected 66 percent rise in nine-month net profit, with a revaluation of its key Brazilian operation masking a lacklustre performance in Spain.
On the upside, Siemens, Europe's biggest engineering conglomerate, rose 2.6 percent after raising its full-year dividend after emerging nearly unscathed from recession.
Gains for mining stocks, after strong Chinese economic data boosted commodities prices, also helped limnit losses for key indexes. Antofagasta rose 4 percent, and touched a record high after Bank of America Merrill Lynch issued a double upgrade on the stock.
Others to rise included Kazakhmys and Xstrata, up 3.8 percent and 4.5 percent respectively.
Oil reached a 25-month high for a fifth consecutive session on Thursday. BP, Royal Dutch Shell and Statoil rose 0.3-0.6 percent.
Across Europe, Britain's FTSE 100 and Germany's DAX were flat; France's CAC40 fell 0.3 percent.
The Thomson Reuters Peripheral Eurozone Countries Index fell 1.3 percent. (Editing by Dan Lalor)