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[PARIS] European shares were steady in early trading on Thursday, taking a breather from their sharp two-month rally, with Allianz falling after its dividend rise disappointed.
Shares in Europe's largest insurer fell 3.8 per cent, the biggest losers among blue-chips, as it raised its dividend by less than expected after earnings in its core property and casualty insurance businesses lagged and results in asset management stalled following client defections at its US unit Pimco.
At 0809 GMT, the FTSEurofirst 300 index of top European shares was up 0.1 per cent at 1,543.44 points.