(Corrects typo in headline)
* FTSEurofirst 300 index finishes up 2.8 pct
* Highest close in two weeks
* Banks gain after Goldman Sachs results
* Tech stocks rise after Intel results
By Joanne Frearson
LONDON, July 15 (Reuters) - European shares closed higher on
Wednesday, boosted by better-than-expected results by Goldman
Sachs <GS.N> and Intel <INTC.O>, with banking stocks the biggest
gainers.
The pan-European FTSEurofirst 300 <> index of top
shares was 2.8 percent higher at 863.32 points, its best close
in two weeks.
The benchmark index, which slumped 45 percent in 2008 due to
the credit crisis, rose 1.2 percent in the previous session and
has gained 33 percent since hitting a record low in early March.
"There seems to have been a consistent out turn of
better-than-expected results with Goldman and Intel today in the
U.S. There is a growing conviction that recovery is coming and
we are leaving the worst behind," said Mike Lenhoff, strategist
at Brewin Dolphin.
Banking stocks added the most points to the index as results
from Goldman Sachs on Tuesday helped push banking stocks higher.
Barclays <BARC.L> was up 4.4 percent. Several people
familiar with the matter said it is considering the sale of its
private equity business and will meet investment partners this
week to discuss the issue. []
HSBC <HSBA.L>, Banco Santander <SAN.MC>, Societe Generale
<SOGN.PA> and Credit Suisse <CSGN.VX> gained 2.6-4.2 percent.
Energy stocks were higher as crude <CLc1> rose 2.7 percent.
BG Group <BG.L>, BP <BP.L>, Royal Dutch Shell <RDSa.L> and Total
<TOTF.PA> up 2.1-3.3 percent.
Mining stocks rose as copper <MCU3=LX> ticked up 4.4
percent. Global miner Rio Tinto <RIO.L> jumped 4.2 percent after
it posted a stronger-than-expected 8 percent rise in
second-quarter output of iron ore. []
Anglo American <AAL.L>, Antofagasta <ANTO.L>, BHP Billiton
<BLT.L>, Eurasian Natural Resources Corporation <ENRC.L> and
Xstrata <XTA.L> rose 3-8.4 percent.
TECHNOLOGY STOCKS BOOSTED BY INTEL
Technology stocks gained after U.S. peer Intel's quarterly
results and outlook blew past Wall Street forecasts on
better-than-expected consumer demand for PCs. []
"Further helping fuel the feeling that the worst is over was
semiconductor producer ASML's estimates that sales would improve
in the next quarter," said Mic Mills, senior sales trader at ETX
Capital.
ASML Holding <ASML.AS> was up 4.7 percent. The group said it
expected third-quarter sales of around 450 million euros and a
gross margin of about 30 percent. []
Alcatel-Lucent <ALUA.PA> soared 10.9 percent, given further
impetus by Bank of America-Merrill Lynch upgrading it to "buy".
Ericsson <ERICb.ST>, Nokia <NOK1V.HE> and Infineon
Technology <IFXGn.DE> were 3.4-8.1 percent higher.
Porsche <PSHG_p.DE> rebounded to gain 0.9 percent from
earlier falls. Porsche said its chief executive, Wendelin
Wiedeking was to remain CEO of the company after a German
business weekly reported that he was to leave.
Looking at macroeconomic data, a strong reading on the New
York State manufacturing survey helped raise investor sentiment.
The slumping factory sector in New York state nearly pulled
out of contraction in July, posting the highest reading in more
than a year as new orders surged, the New York Federal Reserve
said. []
Across Europe, the FTSE 100 <> index rose 2.6 percent,
Germany's DAX <> was 3.1 percent higher and France's CAC
40 <> was up 2.9 percent.
(Editing by David Cowell)
