Europe stocks trim losses after ECB, BoE decisions
* FTSEurofirst 300 down 0.3 percent in choppy session
* Stocks trim losses as ECB, BoE keep rates unchanged
* Weakening banks weigh; BNP Paribas up after strong results
* For up-to-the-minute market news, click on [STXNEWS/EU]
PARIS, Nov 5 (Reuters) - European stocks were down 0.3 percent by early afternoon on Thursday, with banks and miners among the biggest losers.
Yet shares trimmed their losses after both the Bank of England and the European Central Bank kept rates unchanged.
The BoE kept rates on hold and said it would expand its quantitative easing programme by 25 billion pounds ($41 billion), while the ECB kept interest rates at 1 percent as expected.
The two central banks' decisions came a day after the U.S. Federal Reserve said it would keep interest rates near zero for an extended period.
Later in the session, investors will closely watch comments from ECB President Jean-Claude Trichet, looking for insight on the outlook for rates in Europe.
At 1252 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 0.3 percent at 979.73 points, after falling to as low as 969.74 points earlier in the session. The index rose 1.6 percent the previous day.
"When you see the Bank of England continuing to ease, it confirms the view the central banks are more exercised by deflation risks than inflation and they are a long way from hiking rates," said Bernard McAlinden, strategist at NCB Stockbrokers in London.
Banking stocks were among the biggest drags on the market, with HSBC (HSBA.L) down 1.1 percent, Banco Santander (SAN.MC) down 0.5 percent and UniCredit (CRDI.MI) down 1.6 percent.
BNP Paribas (BNPP.PA) bucked the weak trend, up 2.6 percent after the euro zone's second-biggest bank by market value reported forecast-beating profit that trumped the results of many rival banks.
Europe's benchmark index, which has surged 52 percent since tumbling to a record low in March, has lost about 5 percent after reaching a one-year high in mid-October. Continued...
