PARIS Nov 7 European stocks pared early gains
and briefly turned flat around midday on Wednesday, as nagging
worries over the euro zone crisis eclipsed an initial relief
from U.S. President Obama's re-election.
At 1233 GMT, the FTSEurofirst 300 index of top
European shares was up 0.1 percent at 1,115.52 points after
surging to less than a point from a 16-month high in early
The European Commission said on Wednesday the euro zone
economy will barely grow next year, with Spain's economy
expected to contract by 1.4 percent this year and by the same
pace next year, much worse than the government's prediction.
"It's been those revised euro growth forecasts, general cuts
in expectations for growth. That has provided the catalyst, or
excuse if you like, for people to cut back a bit, but we
would've expected some weakness after last night's run higher
anyway," a London-based trader said.