STOXX 600 flat
Sweden cuts interest rates to 3.25 from 3.5
SAP down on report of alleged pricefixing

Sept 25 Reuters European shares pared some losses on Wednesday, supported by a rise in basic resources, even as a rally stimulated by China39;s stimulus package showed signs of slowing down.

The panEuropean STOXX 600 index was trading flat at 519.33, after losing 0.3 at the opening bell.

In Asia, Chinese stocks extended their stimulusfuelled rally to a second day, while other markets struggled for direction.

Sweden39;s benchmark OMXS 30 moved higher, ticking up 0.4 after its central bank cut its key interest rate to 3.25 from 3.50, as expected and signals more easing ahead.

SAP declined 3.6 after a report said the German software developer was under investigation in the United States for alleged pricefixing. The stock weighed the most on the benchmark and dragged the technology subindex down by 0.7.

The oil and gas sector led sectoral declines, losing 0.7 on worries that China39;s stimulus plans did not have enough to boost demand.

Basis Resources helped to mitigate losses, gaining 0.2 as copper prices continued their rally, reaching over twomonth highs in the afterglow of China39;s stimulus plans.

Gains in luxury stocks such as LVMH and Hermes also provided support.

France39;s CAC 40 ticked 0.4 lower after gaining more than 1 in the previous session. Data showed consumer confidence in the country increased in September. The country39;s employment data is due…