Banks help European shares pare losses

LONDON, Sept 11 Tue Sep 11, 2012 10:16am EDT

LONDON, Sept 11 (Reuters) - European shares pared losses in thin afternoon trade on Tuesday as euro zone banks resumed their relief rally and Wall Street indexes gained.

By 1415 GMT, the STOXX 600 Euro zone banking index gained 0.7 percent, nearing six-month highs hit last week, when the European Central Bank's decision to pledge a new scheme to buy the sovereign bonds of struggling countries eased concerns about the region's debt crisis.

The pan-European FTSEurofirst 300 index was flat at 1,103.58 points, with trading volumes coming in at 55 percent of their 90-day average.

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