* FTSEurofirst 300 rises 0.4 percent
* Banks add most points to the index
* For up-to-the-minute stocks news, click on []
By Brian Gorman
LONDON, Dec 23 (Reuters) - European shares hit a fresh
14-month high on Wednesday, the last full trading day before the
Christmas holiday, with banks and energy companies leading.
At 0911 GMT, the FTSEurofirst 300 <> index of top
European shares was up 0.4 percent at 1,039.25 points, just
below the new 14-month high of 1,040.82.
The European benchmark is up more than 61 percent from its
lifetime low of March 9, with several major economies having
emerged from recession.
The banking sector added most points to the index.
BBVA <BBVA.MC>, Banco Santander <SAN.MC>, Barclays <BARC.L>,
HSBC <HSBA.L> and Societe Generale <SOGN.PA> rose 0.8-1.5
percent.
"There's some window dressing going on," said Justin
Urquhart Stewart, director at Seven Investment Management. "Some
fund managers are making sure they have got good equity
positions for the end of the year.
"There is still momentum in there, and it may carry on into
the new year. But the further we go on with this, the more there
will be a correction. Markets don't go up in a straight line."
Energy companies extended gains of recent days as crude
prices <XAU=> edged up 0.4 percent to $74.67 a barrel, following
data from the American Petroleum Institute showing crude
inventories falling, though the strong dollar capped gains.
Total <TOTF.PA>, BP <BP.L> and Royal Dutch Shell <RDSa.L>
rose between 0.7 percent and 1 percent.
Miners rose on firmer prices for copper and other metals.
Antofagasta <ANTO.L>, BHP Billiton <BLT.L>, Eurasian Natural
Resources Corp.<ENRC.L>, Kazakhmys <KAZ.L>, Rio Tinto <RIO.L>,
Vedanta <VED.L> and Xstrata <XTA.L> rose between 1 percent and
1.6 percent.
Across Europe, Britain's FTSE 100, France's CAC-40 <>
and Germany's DAX <> were all up 0.6 percent.
Data suggested economic recovery is still patchy. French
consumer spending dropped slightly in November compared with the
previous month, narrowly undershooting expectations as shoppers
splashed out on cars but cut back elsewhere. []
The U.S. S&P 500 <.SPX> index hit a 14-month closing high on
Tuesday, boosted by strong home sales data.
Although it is set be a quiet day on the corporate front,
significant U.S. economic data was due later -- personal income
and consumption data, the University of Michigan survey readings
and new homes data were due at 1330 GMT, 1455 GMT and 1500 GMT
respectively.
(Editing by Dan Lalor)
