LONDON May 30 European stock markets pared
losses after the European Union Commission said the euro zone
should move towards the direct recapitalisation of banks from
its permanent bailout fund, while the euro jumped on the back of
It also said the region should move towards a banking union
and consider euro bonds as it laid out year-long
The FTSEurofirst 300 index of top European shares
pared losses. At 1104 GMT, the index was down 0.7 percent at
984.32 points after falling to a low of 976.25 earlier in the
session. Euro zone banks recovered to turn flat, while
the FTSE 100 also pared losses.
The euro jumped to as high as $1.24684 from around a
23-month low of $1.24254.
The German Bund future came off record highs but
was still up 50 ticks on the day at 144.80 after a disappointing