European bank stocks outpace market before stress tests

viernes 24 de octubre de 2014 06:48 GYT

* FTSEurofirst 300 erases part of early losses

* Some say concerns about New York Ebola case overdone

* BASF retreats after cutting 2015 earnings forecast

* Luxury goods group Kering falls after lower Gucci sales

By Sudip Kar-Gupta

LONDON, Oct 24 (Reuters) - European shares pared early losses on Friday as investors bet the fallout for the banking sector from stress test results due on Sunday should be contained, and took a more measured view of New York's first case of Ebola.

The banking index rose 0.3 percent, boosted by hopes that the weekend update on the sector's financial health from the European Central Bank should not reveal too many problems.

Banca Monte dei Paschi di Siena shares surged 8 percent as traders said the bailed-out Italian lender could pass the health checks relatively unscathed.

The FTSEurofirst 300 index of top European shares fell 0.2 percent to 1,316.44 points by the middle of the trading session.   Continuación...