European equity rebound loses steam on lack of new ECB measures
* European shares pare gains after ECB
* Draghi Decides not to inject further liquidity into financial system
* FTSEurofirst 300 flat, Euro STOXX 50 up 0.3 pct
* Spain and Italy outperform for second day in a row
By Francesco Canepa
LONDON, March 6 (Reuters) - A rebound on European equity markets fizzled out on Thursday after the European Central Bank chose not take fresh action to inject liquidity into the region's financial system, disappointing some investors.
The pan-European FTSEurofirst 300 index gave up its earlier gains and was flat at 1,344.08 points in late session trading.
The euro zone's blue-chip Euro STOXX 50 index rose 0.3 percent to 3,144.75 points, but was also down from its earlier intraday high of 3,158.15 points.
The ECB kept interest rates on hold on Thursday but also failed to suspend weekly operations to soak up money it spent on sovereign bonds at the height of the euro zone debt crisis, in a process known as 'sterilisation'. Continuación...