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Europe shares pare losses on U.S. confidence data

Published 10/26/2010, 11:01 AM
Updated 10/26/2010, 11:04 AM

LONDON, Oct 26 (Reuters) - European shares pared losses on Tuesday afternoon, after data showing U.S. consumer confidence picked up. By 1434 GMT, the FTSEurofirst 300 <.FTEU3> index of leading European shares was down 0.4 percent at 1,088.13 points. It earlier touched a low of 1,083.01, hit by weak U.S. house prices data. [ID:nN2649346] U.S. consumer confidence rose slightly in October but remained near historically low levels as concerns about the labour market persisted, according to a private sector report released on Tuesday. [ID:nN26127639]

Wall Street pared earlier losses. The Dow Jones <.DJI>, S&P 500 <.SPX> and Nasdaq Composite <.IXIC> were flat.

Royal Caribbean Cruises Ltd rose 12 percent after posting a higher-than-expected quarterly profit on stable demand and cost controls and boosted its full-year earnings outlook.

In London, rival Carnival rose 4 percent. (Reporting by Brian Gorman; editing by Sue Thomas)

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