* FTSEurofirst 300 gain 0.2 pct
* Iberia, British Airways rise on merger news
* French, German Q3 GDP lower than expected
* For up-to-the-minute market news, click on []
By Christoph Steitz
FRANKFURT, Nov 13 (Reuters) - European shares advanced for a
third day on Friday, as news that British Airways <BAY.L> and
Iberia <IBLA.MC> are set to merge offset data showing German and
French third-quarter GDP growth came in below expectations.
By 0930 GMT, the FTSEurofirst 300 <> index of top
European shares was up 0.2 percent at 1,017.12 points after
hitting a three-week closing high in the previous session.
Shares in British Airways and Iberia gained 2.8 percent and
2.3 percent respectively after they announced on Thursday a
preliminary agreement for a $7 billion merger to create the
world's third-largest airline by sales. []
The DJ STOXX European travel & leisure index <.SXTP> was the
biggest sectoral gainer, up 1.2 percent.
But preliminary data showed that the third-quarter GDP of
Germany and France grew at a slower-than-expected pace.
[], []
"The market moves between hopes and fears. GDP data was
weaker than expected, but investors will focus on consumer data
from the U.S. later today," said Heinz-Gerd Sonnenschein, equity
strategist at Postbank.
"Yesterday, volumes had been very low already and this
continues today. One could almost say that we're in a
pre-Christmas tranquility."
Across Europe, the FTSE 100 <> index was up 0.1
percent, Germany's DAX <> was up 0.3 and France's CAC 40
<> was 0.2 percent lower.
NATIXIS FALLS, VIVENDI UP
Later in the session, the focus will be on U.S. import price
data and preliminary Michigan sentiment for November.
"Trade balance and import price data are on the calendar in
the US. The latter should come in higher due to the increase in
oil prices," Helaba analysts wrote.
"The preliminary consumer confidence from the University of
Michigan will probably be the main focus of attention. A slight
deterioration in sentiment cannot be ruled out."
Shares in Vivendi <VIV.PA> advanced 1.5 percent after
Europe's largest entertainment group posted better-than-expected
third quarter results. The DJ STOXX European media index <.SXMP>
rose 0.4 percent.
On the downside, banks weighed on the European index, with
BNP Paribas <BNPP.PA>, Commerzbank <CBKG.DE> and Credit Suisse
<CSGN.VX> down 0.2 to 1.1 percent. But the DJ STOXX European
banking index <.SX7P> was 0.1 percent higher.
Shares in Natixis <CNAT.PA> fell 4.6 percent, as the French
investment bank's first quarterly profit in over a year failed
to please investors. []
"Following a high-profile change in management team in the
second quarter, together with a 1 billion euro 'kitchen sinking'
exercise and a guarantee on legacy assets by the parent bank,
the market expected the company to beat consensus in the third
quarter," Citigroup analysts wrote in a note.
(Additional by Michel Rose and Dominique Vidalon in Paris;
Editing by Hans Peters)
