European shares pare gains as Aviva slump weighs

LONDON, March 7 Thu Mar 7, 2013 8:40am GMT

LONDON, March 7 (Reuters) - A key pan-European equity index pared earlier gains to turn flat on Thursday, with a slump in British insurer Aviva weighing on markets.

The FTSEurofirst 300 index briefly turned negative after having originally opened up by 0.1 percent, and was trading flat at 1,186.79 points by 0837 GMT.

A 12.5 percent fall at Aviva was one of the biggest drags on the index, after the insurer slashed its dividend by over a quarter.

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