* FTSEurofirst 300 index down 1.1 percent

* Economic growth worries weigh on bank and commodity shares

* Defensives gain; pharma group Roche up 2.3 percent

By Peter Starck

FRANKFURT, July 6 (Reuters) - European shares fell for the third straight session on Monday on renewed worries about the sustainability of economic recovery foreseen in recent sentiment surveys on both sides of the Atlantic and in China.

Oil & gas stocks , banks and basic resources took the most points off the FTSEurofirst 300 index of top European shares, which fell 1.1 percent to 833.03 points -- its lowest close since May 13.

Those investors who stayed loyal to equities rotated positions into traditional safe havens such as pharmaceuticals , telecoms and food and beverages .

The benchmark index, which lost as much as 2 percent early in the European day before Wall Street opened after the long Independence Day weekend, is up 29 percent from the all-time low set on March 9.

That rally was driven primarily by an improvement in economic sentiment indicators.