European shares steady after Monday's slump, sentiment fragile

martes 9 de febrero de 2016 07:15 GYT

* FTSEurofirst 300 flat after Monday's slump

* Deutsche Bank rises but banks remain weak

* Sainsbury up after sales rise (Adds details, updates share prices)

By Atul Prakash and Danilo Masoni

LONDON/MILAN, Feb 9 (Reuters) - European shares steadied in choppy trade on Tuesday, underpinned by some positive earnings reports after suffering heavy losses in the previous session on persistent concerns over the health of the region's top banks.

The pan-European FTSEurofirst 300, which slumped 3.4 percent on Monday, was up 0.03 percent by 1058 GMT after falling earlier in the day.

Although the market was helped by gains in firms like Vestas that rose 5.9 percent after beating earnings forecasts, sentiment remained fragile. The FTSEurofirst 300 index moved in and out of negative territory several times in morning trading.

"The mood is clearly negative. What is needed is a strong and clear message from the ECB," said Activtrades Chief Market Analyst Carlo Alberto De Casa.

Deutsche Bank shares rose 1 percent after the German bank said late on Monday it had "sufficient" reserves to make due payments this year on AT1 securities. Its shares had slumped 9.5 percent on Monday on concerns about its ability to maintain bond payments.   Continuación...