LONDON, Nov 3 (Reuters) - European shares pared losses in afternoon trading on Tuesday after data showed new orders received by U.S. factories beat Wall Street expectations and rose 0.9 percent in September.
At 1507 GMT, the FTSEurofirst 300 index of top European shares was down 0.9 percent at 970.90 after hitting a one-month low of 959.11 earlier in the session.
Financials were among the biggest losers, with UBS falling 5.2 percent after the Swiss lender posted a higher-than-expected accounting charge and withdrawals at all its key divisions pushed it into another quarterly loss.
Royal Bank of Scotland fell 12 percent after the bank agreed to sell off businesses to limit its reliance on government support.
Standard Chartered, HSBC, Barclays, BNP Paribas and Societe Generale were down 1.4 to 2.9 percent. (Reporting by Atul Prakash)