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* Pan-European STOXX index down 0.8 pct
* Oil stocks hit by concerns over crude output cut deal
* Italian banks fall on Monte Paschi cash call worries
* Utilities outperform, led by Endesa
By Danilo Masoni
MILAN, Nov 28 (Reuters) - European shares fell on Monday,weighed down by a drop in crude oil prices, while Italian bankshit their lowest point since end-September on continued worriesover a cash call at troubled lender Monte dei Paschi.
The pan-European STOXX Europe 600 index was down0.8 percent by 0941 GMT. The oil & gas index and theregional banks' index were down 1.4 percent and 1.6percent respectively, making them the two biggest sectoralfallers.
Shares in oil majors Total, Royal Dutch Shell and Eni fell between 1.4 and 2.3 percent,after oil prices added to Friday's steep losses as doubtsre-emerged over the ability of big producing countries to agreeoutput cuts at a planned meeting on Wednesday.
Banks, which had benefited from a rally in U.S. treasuryyields following Donald Trump's victory in the race for theWhite House, were broadly as U.S. treasury yields pulled backfrom a 16 month highs.
Italian bank fell 3.1 percent, weighing on thebroader Milan index, on continued doubts over Monte deiPaschi's ability to execute a 5 billion euros capital cash call.
Investors fear that a failure of the capital raising couldheighten worries over the whole Italian banking system, addingto pessimism over political stability ahead of Sunday'sreferendum on constitutional reform.
"Uncertainty (on Monte Paschi) remains very high," said JCICapital portfolio manager Alessandro Balsotti, who said thatsentiment could brighten if the bank finds an anchor investor.
Monte dei Paschi was suspended for excessivevolatility after a drop of more than 12 percent, while thecountry's strongest bank Intesa Sanpaolo lost 2.9percent.
Elsewhere among financial services, Aberdeen AssetManagement rose up 2.2 percent. Traders citedbetter-than-expected results, even though the British assetmanager continued to suffer outflows.
But Man Group fell 4.6 percent after the stock wasdowngraded by Exane BNP Paribas to neutral, while London-listedlender CYBG rose 3 percent, helped by an upgrade o"buy" from Goldman Sachs.
Utilities, which had suffered from risings global bondyields becasuse that makes their dividends relatively lessattractive, outperformed. The sector index was the onlyone to trade in positive territory, up 0.4 percent, with Endesa underpinned by a price target upgrade at Credit Suisse.
(Reporting by Danilo Masoni; Editing by Alison Williams)