Tech and tobacco depress European shares on busy earnings day

* STOXX down 1 pct; set for weekly, monthly drop

* Tech stocks fall after Amazon profit miss

* U.S. FDA statement hits tobacco stocks

* UBS (LSE: 0QNR.L - news) lower after "soft" results

* Adidas (IOB: 0OLD.IL - news) hits new peak, raises outlook (Recasts, adds detail, updates prices at close)

By Danilo Masoni and Kit Rees

MILAN/LONDON, July 28 (Reuters) - Drops among tech stocks, tobacco firms and banks led European shares lower on Friday as company results failed to provide support for the market.

The region's tech index, the top performer so far this year, was down 1.3 percent, helping drag the pan-European STOXX 600 index down 1 percent by its close.

Britain's FTSE fell 1 percent, while export-orientated German blue-chips, lately penalised by a strong euro, fell 0.4 percent.

"Weighing on the markets are not only disappointing results from Amazon and the strong euro... We are also nearing the end of July where traders like to take some profits," City of London (LSE: CIN.L - news) Markets trader Markus Huber said.

Substantial losses among tobacco firms British American Tobacco, 6.8 percent lower, and Imperial Brands (LSE: IMB.L - news) , down 3.8 percent, weighed after the U.S. Food and Drug Administration said that it aimed to cut nicotine in cigarettes.

The STOXX is set to end July with a slight loss of 0.3 percent and a weekly fall of 0.5 percent.

"However the overall picture remains fine, the euro zone economy seems to be powering ahead nicely," Huber said.

Data from France showed the euro zone's second largest economy grew 0.5 percent, helped by a surge in exports.

Turning to company results, Deutsche Bank (IOB: 0H7D.IL - news) strategists said the earnings season was picking up with strong beats in the energy, telecoms and financial sectors while consumer, utilities and industrials stocks have seen net misses.

According to Thomson Reuters IBES data, almost 40 percent of companies in the MSCI Europe index have reported results, with 52 percent beating earnings estimates and 7 percent matching them. Second-quarter earnings growth is expected at 19.7 percent.

With (Other OTC: WWTH - news) only the energy sector in positive territory, banks were another weak spot, led lower by a 1.7 percent fall in Barclays (LSE: BARC.L - news) after a loss in the first-half.

UBS, the world's biggest asset manager, fell 1 percent after results which Baader Helvea said were relatively soft. "We believe, the market will once again raise concerns about a disappointing WM’s (wealth management) gross margin dynamic," Baader said in a note, maintaining its "buy" rating.

Credit Suisse (IOB: 0QP5.IL - news) also reported results, and its shares gained more than 3 percent.

Among top STOXX fallers were shares in Renault (LSE: 0NQF.L - news) and Essilor, which also reported results.

A bright spot was Adidas, up 8.8 percent at a record high as the group raised its full-year outlook after improving margins helped the German sportswear maker achieve an 18 percent jump in second-quarter operating profit.

Spain's DIA (EUREX: 13086668.EX - news) rocketed 15 percent to the top of the STOXX after LetterOne Investment Holdings bought a 3 percent stake in the supermarket chain.

(Reporting by Danilo Masoni and Kit Rees; editing by John Stonestreet)