* Pan-European falls 0.3 pct, down 7 pct year-to-date
* Roche lower after results miss expectations
* Oil stocks higher as crude steadies above $33 (Adds details)
By Danilo Masoni
MILAN, Jan 28 (Reuters) - European shares fell slightly inchoppy trade on Thursday with losses limited by gains in oilstocks, while disappointing results from Roche weighedon the healthcare sector.
Investors were in a wait and see mode after the U.S. FederalReserve kept rates unchanged on Wednesday saying it was "closelymonitoring" global economic and financial developments, signaling it wasn't ready to abandon a plan to tighten monetarypolicy this year.
"The Fed was very pragmatic by showing it is ready toevaluate the impact of markets and delaying any decision toMarch," said Marco Vailati, head of research at Cassa Lombarda.
By 0938 GMT, the pan-European FTSEurofirst 300 index was 0.3 percent lower while the euro zone's blue chipEurostoxx 50 index also dipped.
Shares have witnessed a turbulent start of the year onconcerns over China's slowing economy and tumbling oil prices,with the FTSEurofirst 300 down 7 percent since the end of 2015.
Energy stocks were up 1.3 percent, making them thetop sectoral gainer, as crude prices steadied above $33 perbarrel, supported by the possibility that major producers maycooperate to cut production. Shares in oil companies suchas Repsol , Statoil and Royal Dutch Shell were all up by between 2 and 5 percent.
However, Roche dropped 3 percent after 2015 net profit fromSwiss cancer drug maker fell short of expectations in 2015 andthe company's forecast of an improvement this year met asceptical market response. Its dividend also disappointed.
Analysts at Deutsche Bank said Roche had been weighed downby its diagnostics business, high tax and foreign exchangeeffects. It however reiterated its buy rating on the stocksaying underlying results were of good quality.
Hennes & Mauritz fell 3.8 percent after the fashionfirm warned that price reductions to help shift large stocks ofwinter wear after unusually warm weather and a strong dollarwould weigh on its first quarter.
Among the gainers, Electrolux added 3.5 percent,despite reporting a fourth quarter loss, with traders citing a better than expected underlying performance.
Today's European research round-up RCH/EUROPE (Editing by Keith Weir)
