Europe shares slip, led by oils; C.Agricole rallies

* FTSEurofirst 300 down 0.6 percent

* Bank reverse losses, led by rebound in Credit Agricole

* Oil ticks up but energy shares fall on profit-taking

By Sitaraman Shankar

LONDON, Aug 28 (Reuters) - European stocks slipped in early trade on Thursday as investors took profits on oil shares, offsetting a rise in banks on hopes that Credit Agricole (CAGR.PA: Quote, Profile, Research) had got the bulk of its writedowns out of the way.

At 0840 GMT, the pan-European FTSEurofirst 300 index was trading 0.6 percent lower at 1,166.94 points, on track in August for its ninth month of losses in the last 10.

Banks, which have led a global equities slide over the past year on losses linked to a meltdown in risky or subprime U.S. mortgages, reversed early declines to trade higher.

Credit Agricole (CAGR.PA: Quote, Profile, Research) added most points to the FTSEurofirst 300, gaining 4.2 percent despite posting a 94-percent fall in quarterly profit, hit by around 1.1 billion euros of writedowns related to the credit crisis and monoline insurers.