LONDON, May 17 (Reuters) - European shares edged lower at the start of trading on Thursday, having closed down during the last three sessions, as fears over Greece and Spain continue to weigh on sentiment, traders said.
The pan-European FTSEurofirst 300 index initially rose 0.05 percent to 993.32 points but then fell back quickly into negative territory. The index was down 0.2 percent at 991.09 points by 0706 GMT.
"Questions still remain about Europe," said ClairInvest fund manager Ion-Marc Valahu. "I'm not taking any long-term positions on the market at the moment - it's too dangerous," he added.
Germany's DAX was up by 0.1 percent, while France's benchmark CAC-40 index slipped by 0.1 percent.
Spain's IBEX index, which has dropped sharply in recent weeks due to concerns over the country's banks, was up by 0.2 percent, although El Mundo newspaper reported that Bankia customers had taken out more than 1 billion euros from their accounts over the past week.