* FTSEurofirst 300 down 0.1 pct; hits lowest since Sept. 14
* Financial stocks under pressure, Julius Baer slips 4.8 pct
* Energy stocks advance as crude oil prices rebound
By Atul Prakash
LONDON, Sept 25 (Reuters) - European shares hit their lowest level in nearly two weeks on Friday as financial stocks slipped, led lower by Julius Baer, which fell after detailing its strategic outlook, but positive energy stocks limited losses.
The market ignored a pledge by the Group of 20 rich and developing countries to keep emergency economic supports in place until recovery is secured.
At 0854 GMT, the FTSEurofirst 300 index of top European shares was down 0.1 percent at 986.66 points, after falling to as low as 982.12, the lowest level since Sept. 14. The index is still up 19 percent this year and has surged 53 percent since a record low in March.
Financial stocks were among the top losers, with sentiment down after major world central banks announced on Thursday that they planned to scale-back massive injections of dollars into their banking systems as financial markets stabilise after a devastating crisis.
Standard Chartered, Barclays, Lloyds, Royal Bank of Scotland , UBS, Credit Suisse, Deutsche Bank and Commerzbank fell 0.9-3.8 percent.
Julius Baer fell 4.8 percent after it said it was ready to consider acquisitions in Switzerland and abroad, as it set new targets for its private banking and asset management arms.
DnB NOR, however, rose 7.7 percent after Norway's biggest banking group announced a $2.4 billion rights issue to strengthen its capital.
The market was in an overbought condition and needed to pause before hitting new highs later in the year, said Romain Boscher, chief investment officer at Groupama Asset Management.
"Medium-term outlook is still very positive, but in the very short term, we should be more cautious," he said.
ENGINEERING SHARES FALL
Shares in industrial engineering companies also fell on demand concerns. Sulzer, Alstom, ABB and Volvo fell 1.5-3.1 percent.
Energy shares followed crude oil, which rebounded after a drop of more than 4 percent to its lowest in eight weeks as weak U.S. home sales stoked doubts about the pace of a fuel demand recovery in the world's top energy consumer.
BP, Royal Dutch Shell, BG Group, Tullow Oil and StatoilHydro added 0.5-2.2 percent.
ING rose 1.5 percent after it said it will sell its 51 percent stake in a wealth management joint venture to partner Australia and New Zealand Banking Group for 1.1 billion euros ($1.6 billion).
Consumer goods giant Unilever was up 0.2 percent. It agreed to pay 1.275 billion euros ($1.87 billion) for the personal care business of Sara Lee bringing it brands such as Sanex and Radox.
Across Europe, Britain's FTSE 100 index was up 0.4 percent, while Germany's DAX fell 0.2 percent and France's CAC 40 was down 0.1 percent. (Editing by Rupert Winchester)