Reuters: US Dollar Report: Europe shares, euro pare gains on doubts about ECB

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Europe shares, euro pare gains on doubts about ECB Aug 1st 2012, 08:53 PARIS | Wed Aug 1, 2012 4:53am EDT PARIS Aug 1 (Reuters) - European stocks and the euro pared early gains on Wednesday, while Bund futures benefited, on renewed doubts on the European Central Bank's scope for further measures to fight the region's debt crisis. Bundesbank head Jens Weidmann poured cold water on expectations of a bold move at Thursday's ECB meeting after he said - an interview taken in late June and just published - governments overestimate the central bank's capacities and place too many demands on it. At 0844 GMT, the FTSEurofirst 300 index of top European shares was up 0.03 percent at 1,063.79 points, while the euro currency was up 0.08 percent at $1.2311. German Bund futures pared losses. They were last down 46 ticks on the day at 144.11. "We had this big ramp up in expectations after Draghi but since then the Germans have been trying to play it down and that's enough to get these big moves in what are very think markets," a trader said.

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