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LIVE MARKETS -European stocks rise on BOE rate cut, but gains evaporating

* BoE cuts rates, pledges support for lending * European banks rally * FTSE 100, DAX, Euro STOXX rise, but gains fading March 11 (Reuters) - Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters. You can share your thoughts with Thyagaraju Adinarayan (, Joice Alves ( and Julien Ponthus ( in London. EUROPEAN STOCKS RISE ON BOE RATE CUT, BUT GAINS EVAPORATING (0831 EDT/1231 GMT) European stocks staged a small rebound on Wednesday after the Bank of England joined other banks in cutting interest rates. This action raises hopes for more coordinated monetary and fiscal stimulus to counter the economic shock from the coronavirus outbreak. That said, major indexes have quickly pared gains. Indeed, the FTSE 100 was up as much as 2.2%. However, much of that rise has since evaporated. Bank shares are among the better performers. The Euro STOXX Banks Index is posting a gain of nearly 3%. In any event, weakness has been pronounced in Europe with major indexes being hit harder than their U.S. counterparts. Indeed, after peaking two trading days ahead of the S&P 500 in late February, Germany's DAX, for example, has fallen as much as 24.44% into Monday's low. At its worst level, the SPX was down 19.43% from its high. The DAX, after rallying as much as 2.7% in the wake of the BOE move this morning, is now up just 0.24% and threatening Monday's low at 10,423.90. The DAX's December 2018 trough is at 10,279.20. (Click on chart below.) Meanwhile, CME E-Mini S&P 500 Futures are pointing to a loss of more than 3% for the S&P 500 Index at its open. (Terence Gabriel) *****