UPDATE 2-European shares slip but log sixth straight month of gains

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* STOXX 600 clocks best monthly run since 2013

* Unicredit jumps on results, Monte dei Paschi talks

* Euro zone rebounds stronger than expected in Q2
(Adds comments, updates prices throughout)

By Sruthi Shankar and Shreyashi Sanyal

July 30 (Reuters) - European stocks fell from record highs
on Friday as concerns about the fast-spreading Delta variant and
regulatory actions in China outweighed optimism around the
quarterly earnings season and an economic recovery.

The pan-European STOXX 600 index fell 0.5%, but
rose for a sixth straight month in July, its longest winning
streak since 2012-13 when it rose for 12 months in a row.

"We've seen moves in both directions this week, but they've
lacked any sort of conviction," said Michael Hewson, chief
market analyst at CMC Markets.

"The overriding concern being whether the second half of the
year will be able to match up to some of the decent numbers
we've seen from various company updates this week."

Travel and leisure stocks and miners were
the top decliners.

Italy's UniCredit gained 2.8% after posting
higher-than-expected net profit, and said late on Thursday it
had embarked on formal talks with the government over the
possible acquisition of rival Monte dei Paschi di Siena
. Monte dei Paschi added 3.4%.

EssilorLuxottica rose 3.4% as the Ray-Ban maker
raised its full-year guidance after revenue doubled in the
second quarter.

Overall, out of half the STOXX 600 companies that have
reported so far, 67% have topped analysts' profit estimates,
according to Refinitiv IBES data. While that is below the 72%
beat-rate in the first quarter, it still tops the 51% rate in a
typical quarter.

"We have had exceptional expectations, yet the companies
have managed to beat those expectations," said Oliver Collin,
fund manager of European equities at Invesco. "Interesting thing
in Europe is those beats, quite different to the U.S., were
rewarded in some sort of positive share price momentum."

Collin believes European equities' slant toward cheaply
valued cyclical sectors and a stronger recovery momentum in the
second quarter played a part in prompting the recent positive
market response.

The euro zone economy grew more strongly than expected in
the second quarter as the bloc rebounded from a recession caused
by the COVID-19 pandemic, preliminary data showed.

British Airways owner IAG fell 7.5% after it said
summer capacity would rise to 45% of pre-pandemic levels but
warned that significant uncertainty remained.

German healthcare group Fresenius declined 3.9%
after it raised its 2021 earnings guidance but sounded cautious
on new virus variants and stalling vaccination progress.
(Reporting by Sruthi Shankar and Shreyashi Sanyal in Bengaluru;
Editing by Sriraj Kalluvila and Nick Macfie)