STOCKS NEWS EUROPE-Shares pare gains as Wall St opens down

European shares pare gains as stocks on Wall Street fall in early trade following a weak holiday quarter forecast from retail giant Wal-Mart Stores (WMT.N), sparking concerns about consumer spending.

The FTSEurofirst 300 .FTEU3 is up 0.2 percent at 1,015.47 points after rising to a high of 1,017.42 earlier in the session, while U.S. benchmark indexes .DJI .SPX .IXIC are trading 0.1 to 0.3 percent lower.

Telecommunications shares are among the top gainers, with Vodafone (VOD.L), Telenor (TEL.OL), Teliasonera (TLSN.ST), Inmarsat (ISA.L) and Deutsche Telekom (DTEGn.DE) rising 0.8 to 7.6 percent.

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