London: European shares turned positive in morning trade on Thursday as gains in utilities and automobiles overshadowed falls in banks and commodity stocks.
By 3:15pm, the pan-European FTSEurofirst 300 index was up 0.2% at 1,060.63 points after being down as low as 1,054.43 earlier.
Utilities stocks added the most points to the index. Italy gas transmission operator Snam Rete Gas SpA rose 1.6% after it left its capital spending for the period 2010-2013 unchanged as it seeks to create a gas hub for Southern Europe.
Carmarkers were in favour, with Volkswagen 1.5% higher after the company said sales revenue and operating profit are to rise in 2010.