Europe stocks close lower; financials fall

* FTSEurofirst falls 0.4 pct, lowest close since May 13

* Banking, insurance shares lose ground

* Drugmakers gain; GlaxoSmithKline up after drug deal

By Brian Gorman

LONDON, June 23 (Reuters) - European shares fell to their lowest close in nearly six weeks on Tuesday, with financials suffering most, and with home sales data in the United States casting further doubt on the strength of the economic recovery.

The FTSEurofirst 300 index of top European shares fell 0.4 percent to 833.67 points, the lowest close since May 13. But it is still up more than 29 percent from its lifetime low on March 9.

The heavyweight banking and insurance sectors suffered from the renewed pessimism on economic recovery.

BNP Paribas (BNPP.PA: Quote, Profile, Research), Banco Santander (SAN.MC: Quote, Profile, Research), Barclays (BARC.L: Quote, Profile, Research), Credit Suisse (CSGN.VX: Quote, Profile, Research), Deutsche Bank (DBKGn.DE: Quote, Profile, Research) and Standard Chartered (STAN.L: Quote, Profile, Research) fell between 1.7 and 3.4 percent.