REFILE-Europe shares turn briefly positive; drugmakers gain

Wed Jan 20, 2010 4:31am EST

(Corrects typo in "gain" in headline)

LONDON Jan 20 (Reuters) - European shares briefly turned positive in early trade on Wednesday, led higher by drugmakers while results from ASML (ASML.AS) boosted technology shares.

By 0848 GMT, the pan-European FTSEurofirst 300 .FTEU3 index of top shares was down 0.1 percent at 1,068.41 points having earlier been up as high as 1,069.82.

Pharmaceutical stocks gained as a Republican win in the U.S. Senate race in Massachusetts robbed Democrats of the crucial 60th Senate vote needed to pass healthcare reform.

GlaxoSmithKline (GSK.L), AstraZeneca (AZN.L), Novartis (NOVN.VX) and Shire (SHP.L) advanced 0.3 to 1.6 percent.

Dutch chip equipment maker ASML rose 3.4 percent after fourth-quarter new orders beat expectations as the market continued to improve.

Miners were weak on concerns over China tightening its loose monetary policy. BHP Billiton (BLT.L) lost 1.6 percent and Rio Tinto (RIO.L) dropped 1.7 percent. (Reporting by Joanne Frearson)

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