* FTSEurofirst 300 index up 0.3 percent
* Robust growth in China boosts recovery hopes
* Drugmakers lifted by forecast-beating Q1 sales at Roche
* For up-to-the-minute market news, click on []
By Harpreet Bhal
LONDON, April 15 (Reuters) - European shares rose on
Thursday as confidence in the economy was boosted by strong
growth in China and upbeat U.S. corporate earnings, while
drugmakers gained after sales at Roche <ROG.VX> beat forecasts.
By 0827 GMT, the pan-European FTSEurofirst 300 <>
index of top shares was up 0.3 percent at 1,108.82 points,
having briefly touched a 19-month high at 1,109.47 earlier in
the session.
The index is up almost 72 percent since hitting a lifetime
low in March last year, and is on track to post its seventh
straight week of gains.
Roche Holding rose 1.8 percent after the Swiss drugmaker
beat first-quarter sales forecasts and confirmed its full-year
outlook. []
Within the sector, GlaxoSmithKline <GSK.L>, Sanofi-Aventis
<SASY.PA> and Novartis <NOVN.VX> gained 0.1 to 0.4 percent.
An unexpected 11.9 percent year-on-year growth for China in
the first quarter as well as upbeat corporate earnings from
JPMorgan <JPM.N> and rising retail sales in the United States on
Wednesday helped boost confidence in the pace of economic
recovery. [] []
"People are taking a more optimistic view and there are
green shoots but we have to put these shoots into context," said
Justin Urquhart-Stewart, investment director at Seven Investment
Management.
"Some of these have been forced green shoots because of the
amount of investment and incentives that have been put into the
economy."
Banks were higher, with Barclays <BARC.L>, HSBC <HSBA.L>,
Royal Bank of Scotland <RBS.L>, BNP Paribas <BNPP.PA> and
Deutsche Bank <DBKGn.DE> up 0.5 to 2.2 percent.
Oil majors were boosted as crude prices <CLc1> hovered near
$86 a barrel after the strong growth numbers from China. A
broadly positive note by Credit Suisse on the integrated oil and
gas sector also helped lift sentiment.
BP <BP.L> and Statoil <STL.OL> gained 0.4 and 0.9 percent
respectively, with Credit Suisse upgrading the companies'
ratings. BG Group <BG.L>, Total <TOTF.PA> and Repsol <REP.MC>
added 0.1 to 0.7 percent.
Across Europe, Britain's FTSE 100 <>, Germany's DAX
<> and France's CAC 40 <> rose 0.1 to 0.2 percent.
U.S. EARNINGS AWAITED
Investors are expected to focus on further corporate results
from the United States, with Google <GOOG.O> set to release
quarterly earnings after U.S. markets close on Thursday.
General Electric <GE.N> and Bank of America Corp <BAC> are
expected to report first-quarter figures on Friday.
Among individual movers in Europe, Deutsche Post <DPWGn.DE>
gained 2.5 percent after U.S. peer United Parcel Service <UPS.N>
said its first-quarter earnings per share would be much higher
than it had expected and raised its outlook for the year.
[]
Cruise operator Carnival <CCL.L> adds 2.9 percent, making it
the top FTSE 100 gainer after Morgan Stanley lifted the
company's price target and kept its "overweight" rating.
A.P. Moller-Maersk <MAERSKb.CO>, the world's No.1 container
shipping line, rose 2.1 percent, boosted by China's growth
numbers which signalled an increase in demand for shipping.
(Editing by Jon Loades-Carter)
