LONDON, Dec 9 (Reuters) - European shares gave up losses to briefly turn positive early on Tuesday, with the automobile sector the biggest gainer, but quickly returned to the red after weak British industrial output figures.
By 0926 GMT, the FTSEurofirst 300 .FTEU3 index was down 0.1 percent at 847.57 points.
BMW (BMWG.DE: Quote, Profile, Research, Stock Buzz), Daimler (DAIGn.DE: Quote, Profile, Research, Stock Buzz), Fiat (FIA.MI: Quote, Profile, Research, Stock Buzz) and Volkswagen (VOWG.DE: Quote, Profile, Research, Stock Buzz) were up 1.4 to 2.6 percent.
Congressional Democrats and the White House have been in talks for several days to finalize an emergency loan package estimated to be worth up to $15 billion to prevent the collapse of General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz) and Chrysler LLC.
Bank stocks took most points off the index, with Santander (SAN.MC: Quote, Profile, Research, Stock Buzz) the heaviest weighted loser, down 2.4 percent.
Data on Tuesday showed that British industrial output fell at its sharpest pace in nearly six years in October, and revisions to the previous months' data could mean the economy shrank even faster in the third quarter than initially thought. (Reporting by Joanne Frearson) (joanne.frearson@reuters.com; +44 207 542 2773, Reuters Messaging:joanne.frearson.thomsonreuters.com@reuters.net)
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