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European shares pare early losses as banks rally

PARIS, Oct 3 (Reuters) - European stocks pared early losses and turned flat on Wednesday morning, as banking stocks rallied on expectations that Spain will soon request a bailout, offsetting worries about Chinese economy following grim macro data.

At 0930 GMT, the FTSEurofirst 300 index of top European shares was up 0.04 percent at 1,102.35 points after losing as much as 0.4 percent in early trade.

Deutsche Bank was up 2.3 percent and UniCredit

up 1.6 percent.

(Reporting by Blaise Robinson)

((blaise.robinson@thomsonreuters.com)(+33.1.4949.5269)(Reuters

Messaging: blaise.robinson.thomsonreuters.com@reuters.net))

Keywords: MARKETS EUROPE STOCKS/

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