European shares extend losses; banks worst hit

LONDON, Oct 15 (Reuters) - European shares extended losses in early trade on Wednesday, with recession concerns taking centre stage after a rally in the past two sessions on measures by governments to help the financial sector.

At 0800 GMT, the FTSEurofirst 300 index was down 1.9 percent at 947.80 points after falling as low as 946 points. It gained a record 10 percent on Monday and 3 percent on Tuesday.

On Wednesday, banks were the top weighted losers, with Standard Chartered (STAN.L: Quote, Profile, Research) falling 3.9 percent, Societe Generale (SOGN.PA: Quote, Profile, Research) shedding 3.8 percent, HSBC (HSBA.L: Quote, Profile, Research) down 3.7 percent and BNP Paribas (BNPP.PA: Quote, Profile, Research) dropping 0.8 percent.

Energy shares also fell. BP (BP.L: Quote, Profile, Research), BG Group (BG.L: Quote, Profile, Research) and Tullow Oil (TLW.L: Quote, Profile, Research) shed between 0.4 and 3.1 percent. (Reporting by Atul Prakash)