European shares dipped on Wednesday, easing from 32-month highs as placings hit shares in Spanish bank BBVA and Norwegian energy group Statoil and investors awaited comments from U.S. Federal Reserve Chairman Alan Greenspan. Meanwhile the DJ Stoxx basic resource sector peaked after BHP Billiton, the world's biggest miner reported that it more than doubled its first-half net profit on soaring demand for commodities. "The hike in the progressive dividend per share -- which is very significant -- is perhaps the best, and most telling guidance as to the short, medium and long term outlook. BHP are very confident," CSFB said in a research note. By 1132 GMT, the FTSEurofirst 300 index of pan-European blue chips was 0.52 percent weaker at 1,097.3 points while the narrower DJ Euro Stoxx 50 index also fell 0.53 percent to 3,070.5 points. Greenspan's testimony to the Senate Banking Committee kicks off around 1500 GMT, with markets attuned to any change in Fed comments that the 'measured' pace of tightening will continue. "The risks, from an equity point of view, have to be on the downside," said Rolf Elgeti, a strategist at ABN AMRO. --More 1803 Local Time 1503 GMT
