European shares market april 20 2012

European shares market april 20 2012 : European shares edged lower in early deals, extending losses for a third straight sessions with sentiment capped by political frictions threatening to slow down the International Monetary Fund's efforts to tackle the euro zone debt crisis .

Ahead of a meeting this weekend, the International Monetary Fund's bid to boost funds aimed at handling the debt crisis hit a speed bump, when Brazil demanded more power at the IMF for emerging economies as a condition for lending it extra cash.

"If Brazil really digs its heels, I don't think the market will be too kind to it," Markus Huber, Head of German high net worth trading at ETX Capital. "There has to be unity, that's they only way investors think the crisis can be contained."

Euro zone banks, the bigest holder of Europe's sovereign debt, fall 0.5 percent, although France's BNP-PAribas and Societe Generale outperformed thanks to upgrade by BofA Merril Lycnh.

The pan-European FTSEurofirst 300 index fell 0.1 percent, to 1,039.44 points by 0813 GMT, while the euro zone blue-chip Euro STOXX 50 index fell 0.2 percent, at 2,280.67.

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