* FTSEurofirst 300 index gains 0.2 pct

* Banking shares rise; RBS up

* Miners gain, oils fall

By Joanne Frearson

LONDON, Nov 6 (Reuters) - European shares closed higher on Friday for the third consecutive session after investors decided U.S. monthly payroll data was not as bad as first feared, with banking stocks the major gainers.

The FTSEurofirst 300 index of top European shares closed up 0.2 percent at 992.53 points in a choppy session, having earlier been up as much as 995.78 points and down as low as 979.69 points.

The benchmark index has gained 1.7 percent for the week and is up around 54 percent since reaching a lifetime low in March.

The index fell earlier after U.S. employers cut a deeper-than-expected 190,000 jobs in October, driving the unemployment rate to 10.2 percent, the highest in 26-1/2 years. [ID:nN06178752]