European shares fall; banks, BP pressured

* FTSEurofirst 300 slips 0.3 percent

* Banks reverse earlier gains; Barclays falls

* BP leads energy sector lower on spill worries

* For up-to-the-minute market news, click on [STXNEWS/EU]

By Harpreet Bhal

LONDON, April 30 (BestGrowthStock) – European shares edged down by
midday on Friday, with banks giving back earlier gains as
investors awaited further details on a bailout package for
Greece, while Barclays (BARC.L: ) fell after its results.

By 1114 GMT, the pan-European FTSEurofirst 300 (.FTEU3: )
index of top shares was down 0.3 percent at 1,067.16 points, in
a choppy session as the index swung between positive and
negative territory after closing 1.3 percent higher on Thursday.

Banks were among the biggest fallers, with HSBC (HSBA.L: ),
Societe Generale (SOGN.PA: ), BNP Paribas (BNPP.PA: ) and Deutsche
Bank (DBKGn.DE: ) down 0.5 to 1.2 percent.

Barclays was down 5 percent as results from Barclays
Capital, its investment banking arm, failed to match the lofty
growth shown by many rivals. [ID:nLDE63S0UM]

Greek banks (.FTATBNK: ) pared earlier gains to trade flat.

Investors traded cautiously ahead of a decision by the
European Union and the International Monetary Fund on an
emergency fund for Greece, which could be worth as much as 100
to 120 billion euros ($133-158.5 billion) over three years —
much more than an earlier reported 45 billion euros.
[ID:nLDE63S0BL]

“More importantly for equity markets in the medium-term is
how might the economic environment change within Europe and what
do all the tensions that we see right now mean for the
medium-term economic environment,” said Tammo Greetfeld, equity
strategist at UniCredit.

“Here, there is some uncertainty as the crisis itself will
not be over once the money is paid to Greece.”

Germany expects IMF and European officials to agree a deal
with Athens at the weekend on an austerity programme for Greece,
a German Finance Ministry spokesman said.

Across Europe, Britain’s FTSE 100 index (.FTSE: ) fell 0.6
percent, Germany’s DAX (.GDAXI: ) shed 0.1 percent and France’s
CAC 40 (.FCHI: ) lost 0.5 percent.

OILS SLIP

BP (BP.L: ) fell 1.3 percent. Its shares have been under
pressure since the Deepwater Horizon drilling rig in the Gulf of
Mexico caught fire last week and as the resulting oil spill
neared wildlife refuges and seafood grounds. [ID:nSPILL]

Within the sector, Total (TOTF.PA: ), which reported in-line
first-quarter profit (Read more your timing to make a profit.)s on Friday, fell 2.8 percent.

Tullow Oil (TLW.L: ) shed 3.4 percent, hurt by a ratings
downgrade by Deutsche Bank to “hold” from “buy”.

Mining shares were also under pressure, reversing gains from
earlier in the session as metals prices briefly edged down
before rebounding.

Anglo American (AAL.L: ), Eurasian Natural Resources (ENRC.L: ),
Kazakhmys (KAZ.L: ), BHP Billiton (BLT.L: ), Xstrata (XTA.L: ) and Rio
Tinto (RIO.L: ) shed 0.3 to 1.7 percent.

The latest U.S. economic growth figures, due at 1230 GMT, is
expected to show growth slowed in the first quarter, but
resurgent consumer spending should offer evidence of a
sustainable recovery. [ID:nN29103242]

U.S. stock index futures pointed to a mixed open for Wall
Street, with futures for the Dow Jones industrial average (DJc1: )
flat, S&P 500 futures (SPc1: ) down 0.1 percent and Nasdaq futures
(NDc1: ) down 0.1 percent.

Stock Market Analysis

(Editing by Andrew Callus)

European shares fall; banks, BP pressured