* FTSEurofirst 300 down 0.1 pct, extends recent losses * AXA falls 8.4 pct on fears over balance sheet * Nestle rises 4.7 pct after forecast-beating results * For up-to-the-minute market news, click on [STXNEWS/EU] By Blaise Robinson PARIS, Feb 19 (Reuters) - European stocks were slightly down on Thursday, falling for a seventh time in eight sessions, as wary investors combed through a flurry of mixed company results. Nestle, the world's biggest food group, rose 4.7 percent after the company beat forecasts with underlying sales growth of 8.3 percent in 2008 and was cautiously upbeat for 2009. Other food groups were on the rise, with Danone (DANO.PA) up 1.5 percent. "The basic data on the real economy remains extremely dire, although there are some rays of lights such as Nestle showing that consumption in Europe is not as bad as feared yet," said Commerzbank strategist Hans-Juergen Delp. "However, it is only a matter of time until the recession will fully hit households," Delp added. Austria's Raiffeisen International (RIBH.VI) soared 10 percent after the company released early full-year results which beat its own guidance. But AXA (AXAF.PA) sank 9 percent after Europe's second-biggest insurer's results failed to reassure investors and on mounting worries over the group's balance sheet. "AXA will most likely have to strengthen the capital base should financial markets fail to stabilise. The outlook for earnings remains weak and capital concerns will persist in our view and we remain cautious on the stock despite the low valuation," Cazenove said in a note. At 1150 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 0.1 percent at 762.52 points. The index is on track to record a loss of 4.2 percent on the week.

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