European shares steady as miners rise but Eutelsat slumps

* Morgan Stanley (Xetra: 885836 - news) raises "defensive" stocks to overweight (ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development). MILAN, May 16 (Reuters) - European ended steady on Monday, having recouped early losses, as stronger mining stocks offset weakness elsewhere, with Telecom Italia a standout gainer on the back of its cost-cutting plans. The pan-Euro