* FTSEurofirst 300 edges down 0.1 pct
* Deutsche Bank slips on capital raising talk
* Banks weak, but pare losses ahead of Basel III outcome
* German auto makers rise on export figures
By Harpreet Bhal
LONDON, Sept 10 (Reuters) - European shares edged lower on
Friday, with Deutsche Bank down on talks it plans to raise
capital, while other banks pared losses as concerns over capital
requirements eased ahead of the release of the Basel III rules.
The pan-European FTSEurofirst 300 <> index closed 0.1
percent lower at 1,081.02 points, retreating from its highest
closing level since late April on Thursday.
Falls were kept in check by gains in German auto makers BMW
<BMWG.DE>, Daimler <DAIGn.DE> and Volkswagen <VOWG.DE>, which
rose 1.6 to 3.6 percent, helped by data showing exports from the
auto sector rose 40.8 percent year-on-year in the first half of
the year, compared with 17.1 percent overall export growth.
Deutsche Bank <DBKGn.DE> shed 4.6 percent after two people
familiar with the matter said Germany's top lender was
considering a capital increase to bolster its balance sheet as
Basel III capital requirements are finalised. []
The STOXX Europe 600 banking index <.SX7P> was down 0.5
percent, but bounced off earlier lows as analysts said fears
over the implications of the Basel Committee's new bank capital
rules, to be announced on the weekend, might have been overdone.
The Basel Committee of central bank and regulatory officials
agreed a proposal for tougher new global bank capital rules on
Tuesday but is keeping the details confidential until Sunday.
"There is a feeling that the rules are not going to be as
harsh as previously thought. The need to raise capital is more
of a medium-term concern, and the market isn't too worried about
that at the moment," said David Jones, chief market strategist
at IG Index.
Across Europe, Britain's FTSE 100 <> added 0.1 percent,
Germany's DAX <> shed 0.1 percent and France's CAC 40
<> was up 0.1 percent.
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The German banking association said the Basel Committee
would probably require banks to have a Tier 1 capital ratio of 6
percent, up from 4 percent, and expects Germany's 10 biggest
banks could need 105 billion euros ($141 billion) of additional
capital under the revamp of the banking rules. []
German banks Commerzbank <CBKG.DE> and UniCredit <CRDI.MI>
were down 2.5 and 0.2 percent, while peers Royal Bank of
Scotland <RBS.L>, Societe Generale <SOGN.PA> and BNP Paribas
<BNPP.PA> bucked the trend to rise 0.7 to 0.8 percent.
National Bank of Greece <NBGr.AT> also launched a rights
issue this week, and more lenders in Greece, Spain, Portugal and
Italy could tap investors for funds, analysts said.
"Deutsche is the strongest, and it's going first -- who's
behind them?" said Philip Isherwood, equity strategist at
Evolution Securities in London.
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Graphic on European banks' capital raising:
http://r.reuters.com/cyw42p
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Miners came under pressure from lower metals prices, with
copper <MCU3> falling on concerns about tighter policy in top
consumer China. BHP Billiton <BLT.L>, Anglo American <AAL.L>,
Rio Tinto <RIO.L>, Xstrata <XTA.L> and ENRC <ENRC.L> fell 0.3 to
1.2 percent.
Spain's Gas Natural <GAS.MC> fell 4 percent after French
utility GDF Suez <GSZ.PA> sold its entire 5.01 percent stake
through a block trade for a total of 540 million euros ($685
million).
On the upside, drugmaker Novartis <NOVN.VX> added 1.7
percent after winning its first approval for multiple sclerosis
(MS) tablet Gilenya in Russia, raising hopes of U.S. Food and
Drug Administration (FDA) approval later this month.
[]
(Additional reporting by Brian Gorman; Graphics by Vincent
Flasseur; Editing by Will Waterman)
