European stocks rise as earnings boost sentiment

                                
 * FTSEurofirst 300 up 1.5 pct, continuing Wednesday's gains
                                
 * Miners lead gainers; Anglo American rises
                                
 * Ericsson leads tech stocks lower
                                
 * For up-to-the-minute market news, click on [STXNEWS/EU]
                                
 
                                
 By Christoph Steitz
                                
 FRANKFURT, April 30 (Reuters) - European stocks gained on
Thursday for the second consecutive day, led by mining stocks,
as a wave of European blue-chip earnings gave investors reason
for optimism ahead of important U.S. data later in the day.
 At 0802 GMT, the FTSEurofirst 300 <.FTEU3> index of top
European shares was up 1.5 percent at 828.95 points, after
gaining 1.9 percent on Wednesday to hit a 11-week closing high.
                                
 "Overall, today's numbers don't look too bad so far and
underscore the positive sentiment that is currently present in
the market," said Marcus Silbe, analyst at German brokerage
Close Brothers Seydler.
                                
 "However, further input from the U.S. earnings as well as
macro data later in the day will determine if we stay up or if
markets drop."
                                
 German truck maker MAN <MANG.DE> soared 6.3 percent after
the company posted operating profit of 100 million euros, above
analysts' expectations of 73 million. [ID:nLT457269]
                                
 Chemicals giant BASF <BASF.DE> also posted results clearly
above expectations, lifting its shares 8.5 percent.
[ID:nLT222847]
                                
 "The positive EBIT was a major surprise. Cost control is
excellent. However the low sales volumes are hard to digest: the
company indicated that the cost of capital goal is almost
impossible to reach," DZ Bank analyst Peter Spengler said.
                                
 Across Europe, the FTSE 100 <.FTSE> index was up 1.5
percent, Germany's DAX <.GDAXI> gained 2.1 percent and France's
CAC 40 <.FCHI> was 1.5 percent higher.
                                
 
                                
 ERICSSON FALLS, EYES ON US DATA
                                
 Miners were the top sectoral gainer, with group Anglo
American Plc <AAL.L> up 4.2 percent after the company posted a
22 percent rise in first quarter iron ore output on while copper
production declined by 5.4 percent.
                                
 French carmaker Renault <RENA.PA> advanced 8.2 percent after
the company late Wednesday posted a 31 percent drop in
first-quarter sales to 7.08 billion euros, but reaffirmed its
focus on generating positive free cash flow in 2009.
[ID:nLT680205]
                                
 "The first quarter is now behind us. European markets are
likely to improve owing to the trade-in schemes in a number of
European countries," one trader said.
                                
 German Wacker Chemie <WCHG.DE> rocketed 8.4 percent after
the silicon maker released strong first-quarter results.
                                
 "Wacker has an excellent chance of emerging from this
recession with significantly improved market position and
earnings potential, in our view," Citigroup wrote.
                                
 On the downside, telecom bellwether Ericsson <ERICb.ST>
posted weaker-than-expected first-quarter underlying earnings,
sending its shares down 8.3 percent.
                                
 Later in the session, investors will train their sights on
European unemployment figures and U.S. core personal consumption
expenditure data as well as jobless figures.
                                
 "In the U.S., the drop in employment and hours worked likely
pulled down personal income again in March," UniCredit wrote in
a note.
 (Additional reporting by Tyler Sitte in Frankfurt and Blaise
Robinson in Paris; Editing by Hans Peters)