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* ECB keeps rates on hold; no supply ceiling from OPEC
* Voestalpine and Johnson Matthey rise after results
* Greece underperform's on ECB's waiver delay
* Spanish banks buoyed by HSBC comments
By Alistair Smout
LONDON, June 2 (Reuters) - Euro zone shares gave away earlygains on Thursday after OPEC failed to agree an output ceilingfor oil and the European Central Bank revised its inflation andgrowth forecasts only slightly higher.
The euro zone blue chip Euro STOXX 50 turnedlower to close down 0.2 percent. The pan-European STOXX 600 and FTSEurofirst 300 edged up 0.1 percent.
Oil and gas shares among the top sectoral fallers,down 0.5 percent after an OPEC delegate told Reuters that OPECwas not changing its output policy, meaning the organisation hadfailed to agree a new production ceiling.
The prospect of lower oil prices complicates the task ofcentral banks as they attempt to battle deflation.
The ECB kept interest rates firmly on hold, as expected.
The ECB raised growth and inflation forecasts for the eurozone only modestly, by less than some had hoped.
President Mario Draghi said the ECB had lifted growthforecasts for 2016 but cut growth estimates for 2018, and raisedits inflation forecast to just 0.2 percent from 0.1 for thisyear.
"He said that inflation was not going to pick up thatstrongly, despite oil prices being reasonably high," said JoeRundle, head of trading at ETX Capital.
"With what's happened out at OPEC, that will producedownward pressure on oil, which could produce deflation in theeuro zone."
Greece's top share index underperformed, down 0.9percent, after Draghi said the ECB had not yet taken a decisionon whether to grant Greece access to cheap money.
Providing support to the market, Voestalpine rosemore than 4 percent.
The Austrian steel producer posted a full-year net profitabove expectations, helped by its focus on better-quality steeland products which make it less vulnerable to price swings andcompetition from commodity steel imports.
A welcome set of results also underpinned shares in JohnsonMatthey, which rose around 5.9 percent.
The British maker of metal catalysts for caremission-control devices also forecast higher results in thecoming year due to restructuring and improved market conditions.
Spain's IBEX rose 0.5 percent, with a 5.2 percentrally in Banco Popular leading Spanish banks higherafter encouraging comments from HSBC on the sector.
"Combined with cost containment and improving asset quality,Spanish banks should continue to post growth in net profit. Concerns on the impact from lower rates look overdone and banksshould continue to grow profits," analysts at HSBC said in anote.
Today's European research round-up
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Mike Dolan, Markets Editor EMEA (Additional reporting by Danilo Masoni)
