* China, UK, Europe central banks cut interest rates * Equities, euro, commodities fall broadly * U.S. Non-farm payrolls for June due at 1230 GMT (Updates prices; adds quotes, details) By Carrie Ho SHANGHAI, July 6 (Reuters) - Copper futures edged down on Friday on worries about the weakening global economy after a raft of interest rate cuts in major financial centres and signs that major metals consumer China is unlikely to meet its 2012 trade growth target. Caution ahead of key U.S. nonfarm payroll data later also weighed on prices, but gains in shares in property firms helped base metals pare some early session losses. Three-month copper on the London Metal Exchange edged down 0.5 percent to $7,655 per tonne by 0737 GMT, on track for a 0.3 percent fall on the week. The most-active October copper contract on the Shanghai Futures Exchange fell 0.5 percent to 55,720 yuan ($8,800) per tonne, but is on track to post a 1.7 percent rise on the week. China, the euro zone and Britain loosened monetary policy in the space of less than an hour on Thursday, but, underwhelmed by the central banks' moves, the euro fell along with most commodities, while safe-haven gold rose. China's rate cut preceded bearish comments by Vice Premier Wang Qishan, who said the world's second largest economy will have difficulty meeting its 10 percent trade growth target this year, which some investors said may signal the country's downturn is deeper than expected. "Instead of being encouraged by the central banks' moves, many interpret them as a sign that these governments are worried about their economies. Many prefer to play it safe especially ahead of tonight's U.S. nonfarm payroll data," said a Shanghai-based trader. Base metals began recovering some losses after China shares started rising in the afternoon trading led by property stocks, which bucked the broader market trend and rose on expectations that China's rate cut could boost their earnings. In the physical market, copper stocks in Shanghai Futures Exchange-monitored warehouses rose 11.3 percent to 155,237 tonnes on the week. Traders said this was due to investors trying to deliver into the front-month July contract, which is trading at a premium to forward-month contracts. After the raft of interest rates cuts, investors are now focusing even more on what the U.S. Federal Reserve will do at its meeting at the end of the month. Some encouraging data on the labor market on Thursday tempered anticipation that the Fed could undertake a third round of bond purchases, known as quantitative easing or QE3, but more weight will be given to Friday's nonfarm payrolls report, which is expected to show job growth picked up in June but still remained tepid at 90,000 jobs. Base metals prices at 0737 GMT Metal Last Change Pct Move YTD pct chg LME Cu 7655.00 -40.00 -0.52 0.72 SHFE CU FUT OCT2 55720 -260 -0.46 0.16 LME Alum 1932.00 -12.00 -0.62 -4.36 SHFE AL FUT OCT2 15605 -75 -0.48 -1.48 HG COPPER SEP2 347.95 -1.35 -0.39 1.27 LME Zinc 1858.00 4.00 +0.22 0.70 SHFE ZN FUT OCT2 14740 -110 -0.74 -0.37 LME Nickel 16675.00 -25.00 -0.15 -10.88 LME Lead 1875.00 -12.00 -0.64 -7.86 SHFE PB FUT 14930 -65 -0.43 -2.35 LME Tin 18775.00 -100.00 -0.53 -2.21 LME/Shanghai arb 1298 Shanghai and COMEX contracts show most active months ^ LME 3-m copper in yuan, including 17 pct VAT, minus SHFE third month ($1 = 6.3559 Chinese yuan)

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