* FTSEurofirst 300 <> index up 0.8 percent
* ING, Credit Agricole gain after results
* For the latest stocks news click on []
By Brian Gorman
LONDON, Nov 11 (Reuters) - European shares gained in early
trade on Wednesday, with France's Credit Agricole <CAGR.PA>
among banks gaining after reporting results, and with sentiment
lifted by upbeat Chinese data.
At 0916 GMT, the FTSEurofirst 300 <> index of top
European shares was up 0.8 percent at 1,018.06 points, after
hitting a three-week high of 1,018.73.
The European benchmark is up more than 57 percent from its
lifetime low of March 9 as investors have become more confident
on the prospects for economic recovery.
Credit Agricole, France's biggest retail bank, rose 4.4
percent after posting a widely-expected fall in third-quarter
profit on Tuesday after European markets closed.
Italian banks UniCredit <CRDI.MI> and Intesa Sanpaolo
<ISP.MI> were up 0.5 and 1.4 percent respectively after results.
Other banks to gain included BBVA <BBVA.MC>, BNP Paribas
<BNPP.PA>, HSBC <HSBA.L> and Societe Generale <SOGN.PA>, up
1.2-1.8 percent.
Dutch bancassurer ING <ING.AS> rose 4.8 percent after
posting hird-quarter profit in line with preannounced results.
Spain's largest bank, Santander <SAN.MC>, rose 1 percent. On
Tuesday, the bank said it made 5.09 billion euros ($7.63
billion) through an initial public offering of its Brazilian
unit after a greenshoe option was partially exercised.
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Data showed Chinese factory output growth leapt to a
19-month high in October, signalling the world's third-biggest
economy has put the worst of the global downturn behind it.
"The Chinese data has helped, and you've had an accumulation
of strong economic and corporate data in the United States,"
said Bernard McAlinden, investment strategist at NCB
Stockbrokers, in Dublin.
"We're in a cyclical bull market, that's not very mature.
The market was trying to correct, but the data has been too
good."
Across Europe, Britain's FTSE 100 <>, Germany's DAX
<> and France's CAC-40 <> were up between 0.8 percent
and 1 percent.
MINERS RISE
Gold <XAU=> hit a new record high around $1,115 an ounce as
the dollar slipped. The price of copper and other metals also
gained, boosting shares in miners.
Anglo American <AAL.L>, Antofagasta <ANTO.L>, BHP Billiton
<BLT.L>, Lonmin <LMI.L>, Randgold <RRS.L>, Rio Tinto <RIO.L>,
Vedanta <VED.L> and Xstrata <XTA.L> rose up to 4.4 percent.
Several other companies rose after reporting results.
Sainsbury <SBRY.L>, Britain's third-biggest grocer, gained
3.3 percent after rising customer numbers and strong growth in
non-food ranges helped it post first-half profit toward the top
end of forecasts, though it signalled a tougher second half.
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Utilities E.ON <EONGn.DE> and International Power <IPR.L>
rose 2 percent and 4.4 percent respectively after they upgraded
full-year earnings guidance.
Scottish & Southern <SSE.L> fell 2.3 percent after it
maintained full-year guidance when posting first-half results.
"We like the fact the dividend is secure but there was
nothing positive in the SSE statement this morning," said one
analyst who declined to be identified. "On the other hand, IPR
was a lot more positive, a rare piece of good news for UK
utilities, and the stock looks quite cheap relative to other
utilities."
Economic data due includes the Bank of England's quarterly
inflation report, scheduled for 1030 GMT.
(Editing by Dan Lalor)
