European shares pare losses as commodities rally
LONDON, Aug 21 (Reuters) - European shares pared losses in afternoon trade on Thursday as commodity stocks rallied on higher crude and metal prices, though renewed credit jitters weighed heavily on banks.
By 1430 GMT, the FTSEurofirst 300 .FTEU3 of top European companies was down 0.4 percent at 1,160.30, well off its day's low of 1,148.69.
Energy stocks tracked higher crude prices CLc1, which traded above $119 a barrel. BP (BP.L) added 0.7 percent, while Royal Dutch Shell (RDSa.AS) put on 1.5 percent.
Miners also rose, with BHP Billiton (BLT.L) and Rio Tinto (RIO.L) rising more than 2.7 percent.
Banks were the most prominent decliners on the FTSEurofirst 300. HSBC (HSBA.L) shed 2.2 percent, Deutsche Bank (DBKGn.DE) lost 1.3 percent and BNP Paribas (BNPP.PA) fell 1.9 percent. (Reporting by Dominic Lau)
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