European shares turned lower on Friday afternoon, tracking losses on Wall Street, with traders saying a stronger-than-expected U.S. jobs report had already been priced in and was insufficient to offset concerns over the euro zone crisis.

The decent number that we saw was very much anticipated and the revision adds a slight cloud on it, Giles Watts, head of sales trading at City Index.

Non-farm payrolls data showed U.S. employment grew solidly last month, but the payrolls count for October and November was revised to show 8,000 fewer jobs created than previously reported, taking some edge off the report.

The reading followed much better-than-expected private sector jobs data on Thursday, which had raised market expectations ahead of today's data.

At 2:51 p.m., the FTSEurofirst 300 index <.FTEU3> of European shares was down 0.3 percent at 1010.79.

Euro zone banks <.SX7E> once again weighed on the index as they fell 2 percent on fears relating to their ability to raise cash in the market, as well as the huge sovereign refinancing needs of the region's countries.

German Bund futures also erased losses and were last traded 1 tick higher on the day at 138.80.

(Reporting By Francesco Canepa)