European shares dip early; Total hit

PARIS, July 30 Wed Jul 30, 2014 3:11am EDT

PARIS, July 30 (Reuters) - European shares dipped in early trade on Wednesday, with Total falling on worries over its investments in Russia and after posting a drop in profits.

Shares in the French oil major dropped 2.6 percent after revealing that it stopped buying shares in Russia's Novatek the day of the downing of a Malaysia Airlines flight over Ukraine.

At 0705 GMT, the FTSEurofirst 300 index of top European shares was down 0.1 percent at 1,372.21 points, after gaining 0.3 percent on Tuesday.

Bucking the trend, Peugeot surged 6.7 percent after the carmaker arrowed its first-half loss and posted the first positive contribution from its core auto division in three years.

Investors also awaited U.S. growth figures for the second quarter, due at 1230 GMT, as well as the conclusion of the U.S. Federal Reserve's two-day policy meeting and its statement set to be released at 18:00 GMT.

(Reporting by Blaise Robinson; Editing by Alistair Smout)

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