European shares steadied early on Thursday, pausing after a strong rally in the previous session, with strong earnings updates driving shares in Melrose Industries and Subsea 7, Reuters reported. The pan-European STOXX 600 index was flat in percentage terms by 0826 GMT. Basic resources stocks were again the top gainers, up 1 percent, after a more than 2.9 percent rise on Wednesday. British mid-cap engineering turnaround specialist Melrose Industries was the top gainer and hit a record high after its full-year revenue more than tripled, helped by its acquisition of U.S. ventilation maker Nortek Industries. Subsea 7, the Norwegian oil services company, was also among the top gainers, up 9.8 percent, after it posted a fourth-quarter earnings beat and said it would pay a special dividend.
