Europe: Shares Turn Higher; Miners Weak

Stocks in Europe edged up after a weak start, as bank shares turned up, but selling in miners capped gains.

At 1:30 p.m. (I.S.T.), Britain's FTSE, France's CAC and Germany's DAX rose 0.1% to 0.3%.

Among financials, Barclays, BNP Paribas, Credit Agricole and Deutsche Bank climbed 1.2% to 1.5% while miners BHP Billiton, Rio Tinto, Anglo American and Xstrata lost 0.4% to 0.9%.

In news-driven movers, Shire Plc erased 0.5% following a broker downgrade while UBS jumped 6.4% after its quarterly results beat street estimates.

Elsewhere, Asian markets were trading broadly lower, following a tepid close on Wall Street overnight.