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European shares briefly turn positive on Nowotny comments
July 25, 2012 / 7:32 AM / 5 years ago

European shares briefly turn positive on Nowotny comments

PARIS, July 25 (Reuters) - European shares pared losses and briefly turned positive on Wednesday morning after European Central Bank Governing Council member Ewald Nowotny said there are arguments for giving Europe’s permanent rescue fund a banking licence.

At 0725 GMT, the FTSEurofirst 300 index of top European shares was down 0.04 percent at 1,018.22 points, while Spain’s IBEX was up 1.2 percent, and Italy’s FTSE MIB up 0.3 percent after suffering heavy losses in the past three sessions.

“I think there are pro arguments for this,” Nowotny, who heads Austria’s central bank, told Bloomberg television in an interview aired on Wednesday. (Reporting by Blaise Robinson; editing by Simon Jessop)

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