* FTSEurofirst 300 rises 0.4 pct; gains for second day
* Financials among top gainers; Barclays slips
* Miners among top gainers as metals prices rise
* For up-to-the-minute market news, click on []
By Atul Prakash
LONDON, April 30 (Reuters) - European shares climbed for a
second straight session on Friday ahead of U.S. GDP numbers,
with expectations that a multi-billion-euro aid package for
Greece will be hammered out within days helping financials.
At 0829 GMT, the FTSEurofirst 300 <> index of top
European shares was up 0.4 percent at 1,073.81 points after
closing 1.3 percent higher in the previous session. The index is
up 66 percent since hitting a record low in March 2009.
Banks were among the top gainers, with the STOXX Europe 600
banking index <.SX7P> rising 0.7 percent. Greek banks <.FTATBNK>
jumped 5 percent, extending the previous session's rally of 13
percent.
Recently beaten-down Greek banks National Bank <NBGr.AT>,
EFG Eurobank <EFGr.AT> and Alpha Bank <ACBr.AT> spiked 2.1 to 9
percent.
"The background does seem to be definitely improving for the
eurozone's public debt crisis. Fundamentals for the market are
still improving. The earnings that are coming through, not just
on Wall Street but everywhere now, are very supportive," said
Mike Lenhoff, chief strategist at Brewin Dolphin.
"Until we get a change in direction on the interest rate
front from the Federal Reserve, Wall Street is going to head
higher and lead the way," he added.
European Commission President Jose Manuel Barroso said a
multi-billion-euro aid package for Greece will be hammered out
within days and will prevent the crisis from spilling over to
other countries.
Greece readied severe austerity measures to secure the aid
and avoid a debt default. Investors were comforted by signs the
package could be worth as much as 100 to 120 billion euros
($133-158.5 billion) over three years -- much more than an
earlier reported 45 billion euros. []
"Investors are betting on the official activation of the
mechanism for Greece, that Greece will not default and spreads
will fall further," said Takis Zamanis, head trader at Beta
Securities.
BANKS UP; BARCLAYS SLIPS
Other banks also advanced, with Standard Chartered <STAN.L>,
HSBC <HSBA.L>, Lloyds <LLOY.L>, Royal Bank of Scotland <RBS.L>,
BNP Paribas <BNPP.PA>, Societe Generale <SOGN.PA>, Credit
Agricole <CAGR.PA>, Natixis <CNAT.PA> and UBS <UBSN.VX> rising
0.5 to 2.9 percent.
Barclays <BARC.L>, however, fell 4.6 percent after a trading
update which JPMorgan said was "disappointing", after which it
lowered its earnings estimates by 2.5 percent for 2010, 2.9
percent for 2011 and 2.3 percent for 2012. []
Miners got strength from higher metals prices, which rose on
expectations that an economic recovery will boost demand for raw
materials. BHP Billiton <BLT.L>, Anglo American <AAL.L>,
Antofagasta <ANTO.L>, Rio Tinto <RIO.L>, Xstrata <XTA.L> and
Eurasian Natural Resources <ENRC.L> rose 0.7 to 2.2 percent.
Investor appetite for risky assets rose, with the VDAX-NEW
volatility index <.V1XI> falling about 5 percent after slipping
more than 4 percent in the previous session. The lower the
index, the higher the market's desire to take risk.
Drugmakers, generally seen as defensive plays, fell.
AstraZeneca <AZN.L>, GlaxoSmithKline <GSK.L>, Merck <MRCG.DE>,
Novartis <NOVN.VX>, Roche Holding <ROG.VX>, Sanofi-Aventis
<SASY.PA> and Shire <SHP.L> fell 0.3 to 1.2 percent.
BP <BP.L> was down 0.8 percent. Its shares have fallen
around 12 percent since news broke that one of its wells in the
Gulf of Mexico was leaking oil.
Looking ahead, the latest U.S. economic growth figures are
expected to show growth slowed in the first quarter, but
resurgent consumer spending should offer evidence of a
sustainable recovery. []
Across Europe, Britain's FTSE 100 index <>, Germany's
DAX <> and France's CAC 40 <> rose 0.3-0.8 percent.
(Additional reporting by Angeliki Koutantou and Ingrid Melander
in Athens; editing by Simon Jessop)
