European shares pinned back after report of bank stress-test failures

miércoles 22 de octubre de 2014 07:16 GYT

* FTSEurofirst 300 down 0.1 pct

* Spanish report says 11 EU banks set to fail stress test

* ABB, Husqvarna rally after positive results

* Heineken dips after posting lower-than-expected sales (Recasts, adds detail, quote)

By Alistair Smout

EDINBURGH, Oct 22 (Reuters) - European shares briefly gave up early gains on Wednesday, after a report that at least 11 banks are set to fail this weekend's stress tests took the shine off of a raft of positive corporate earnings reports.

Euro zone banks fell over one percent after Spain's Efe news agency reported that least 11 banks from six European countries are set to fail the region-wide financial health check this weekend, citing several unidentified financial sources.

The STOXX Europe 600 euro zone bank index recovered to trade just 0.2 percent lower, however, with Spain's economy minister saying he was confident Spanish lenders would do well in the European Central Bank's checks, and Austria's Erste Bank denying it was among those that had failed the test.

Erste Bank was down 1.6 percent, having traded as much as 2.3 percent lower following the report.   Continuación...