European shares trim some gains as Italian stocks fall

martes 11 de noviembre de 2014 12:05 GYT

* FTSEurofirst 300 up 0.3 pct

* Vodafone up 5.7 pct as it raises guidance

* Henkel boosted by strong results

By Alistair Smout

LONDON, Nov 11 (Reuters) - Europe's benchmark index of top shares trimmed its gains on Tuesday, hurt by a fall in Italian stocks and a weak open on Wall Street, but remained supported by strength in telecoms issues.

At 1549 GMT, the FTSEurofirst 300 index of pan-European shares was up 0.3 percent at 1,358.74 points, having been up as much as 0.5 percent earlier. U.S. stocks opened slightly lower on the day.

Italy's FTSE MIB underperformed, down 0.2 percent, led lower by a 3.8 percent fall in UniCredit. It rapidly shed gains made after an expectation-beating report just after 1300 GMT.

UniCredit's revenues were hindered by weakness in the Italian economy, which took the shine off of stronger than expected profits, traders said.

The FTSE Italia All-Share Banks Index is down over 12 percent since the start of October.   Continuación...