European shares rose 0.6 percent in a choppy morning session on Wednesday after the European Central Bank (ECB) announced results for its latest liquidity operation.

By 0927 GMT, the pan-European FTSEurofirst 300 .FTEU3 index of top shares was at 1,001.74 points, after rising to a high of 1,002.18 earlier in the session before wobbling ahead of the ECB tender result.

The European Central Bank lent banks 131.9 billion euros ($161.4 billion) in three-month funds on Wednesday, below expectations, as banks face the repayment of close to half a trillion euros in 12-month funds. The relatively low demand should help ease concerns about bank finances which have rocked stock markets this week.

(Reporting by Atul Prakash)

European central bank