Euro Shares Fall for 10th Session in Eleven

European shares fell for the tenth session in the last 11 on Wednesday as a relief rally for battered banks was not enough to offset declines in other sectors, notably energy.

The FTSEurofirst 300 index of top European shares fell 0.9 percent to close unofficially at 767.23 points, its lowest close in two months.

Energy stocks were the biggest drag on the index, though crude prices rose more than 2 percent to nearly $42 a barrel.

Total, BP, Royal Dutch Shell, BG Group and ENI fell between 2.2 and 4.2 percent.

Although banks bounced, analysts said their troubles were still the root cause of nervousness in the markets.

"There's so much uncertainty about banks being nationalized and the effect this would have on governments' balance sheets, and credit ratings," said Elin Anden, strategist at Cazenove, "There are too may macro worries to encourage buying shares," she said.

"We might start buying cyclicals, but even that would be a couple of months away." Deutsche Bank, HSBC, Natixis, Royal Bank of Scotland, Societe Generale and UBS rose between 3.6 and 23.3 percent.

Across Europe, Britain's FTSE 100 and France's CAC-40 fell 0.8 and 0.7 percent respectively. Germany's DAX rose 0.5 percent.

Wall Street was up slightly around the time European bourses were closing.

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