Europe shares flat, Bunds up; Spain concerns weigh

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European shares pared back earlier gains to trade flat in thin trade on Monday with investors once again preoccupied by problems surrounding Spain's banks.

The FTSEurofirst 300 was trading at 984.64 by 1323 GMT, having reversed from a session high of 993.21. Spain's IBEX was the main faller, down 2%, led by banking sector heavyweights Santander and BBVA.

Shares in troubled lender Bankia had earlier fallen 26.75% when trading resumed after stock market regulator CNMV suspended it on Friday, before the bank asked for a 23.5 billion euros bailout.

German Bund futures rose to a session high of 144.40, reversing earlier losses to stand 17 ticks up on the day.

Trade was thin, however, as a number of European markets were closed.

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