European shares steady as gains in miners offset by weak Italian banks

martes 12 de abril de 2016 10:45 GYT

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* Pan-European index little changed

* Miners lead gainers on firmer copper prices

* Italy undeperforms as banks turn lower

By Sudip Kar-Gupta and Danilo Masoni

LONDON/MILAN, April 12 (Reuters) - European shares steadied in choppy trade on Tuesday, with gains among mining companies offset by weakness among Italian banks.

The pan-European FTSEurofirst 300 index and the euro zone's blue-chip Euro STOXX 50 index were 0.08 percent higher and 0.01 percent lower respectively by 1437 GMT.

The Italian banking index fell more than 4 percent, reversing initial gains after two straight session of gains as investors questioned the state-orchestrated deal to create a fund to shore up weaker banks.

"The problem with the Italian bank fund is that it is not big enough and it risks compromising the banks that are already in a much better shape," said Francois Savary, chief investment officer at Geneva-based investment and consultancy firm Prime Partners.   Continuación...