UPDATE 2-European shares edge higher on trade optimism; U.S. bank earnings weigh


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    * FTSE dragged down by miners and oil majors 
    * Vivendi at 11-yr high on higher Q1 results 
    * Nestle, ex-div, weighs on Food and Beverage index 
    * Nokia downgraded by Goldman Sachs to "sell"

 (Updates to close)
    By Agamoni Ghosh
    April 15 (Reuters) - European shares ended higher on Monday
with telecom and retail stocks leading gains as Sino-U.S. trade
optimism and strong Chinese economic data eased some worries
over global growth - though lacklustre earnings from big U.S.
banks weighed. 
    The pan-European STOXX 600 index  .STOXX  rose for the
fourth straight session, hovering near eight-month highs with
most indices in the region gaining, apart from Britain's FTSE
100  .FTSE  which lost ground as miners and oil majors fell.
    Markets cheered the progress in trade talks after U.S.
Treasury Secretary Steven Mnuchin said on Saturday he hoped that
the United States and China were close to the final round of
    Reuters reported that U.S. negotiators had tempered demands
that China curb industrial subsidies as a condition for a deal
after strong resistance from Beijing.  urn:newsml:reuters.com:*:nL1N21V0BZ urn:newsml:reuters.com:*:nL1N21V0CY
    "Growth worries will continue to be shrugged off as long as
trade talks go well and central banks continue to support
monetary policy," said David Madden, an analyst at CMC Markets,
    Investors are bracing for earnings to come later in the week
and will also be scrutinizing data - including Germany’s ZEW
survey and Chinese gross domestic product due on Wednesday. 
    Bank stocks,  .SX7P  which led gains earlier in the day on
last week's earnings beat from JP Morgan, slipped after
lacklustre results from Goldman Sachs  GS.N  and Citigroup
 C.N .
    "We do see a bit of pressure on Eurozone banks because of
those earnings," said Madden.
    Shares in Danish healthcare company Ambu  AMBUb.CO  rose
more than 7 percent, making it the biggest gainer on the STOXX
600, after the U.S. FDA said products produced by some of its
rivals had higher than expected levels of contamination.
    French media conglomerate Vivendi  VIV.PA  closed at a more
than 11-year high after it posted higher first-quarter revenue
and said it was forging ahead with the planned sale of up to 50
percent of its UMG music arm.  urn:newsml:reuters.com:*:nL5N21X0KY 
    Shares of Norwegian metals maker Norsk Hydro  NHY.OL  rose
to more than two-month highs after the company won further
support for its bid to resume full output from its Alunorte
alumina refinery in Brazil.  urn:newsml:reuters.com:*:nL5N21X19G
    Italian media group Mediaset  MS.MI  and its German rival
ProSiebenSat.1 Media  PSMGn.DE  rose on merger speculation, even
though both companies denied they were in talks.  urn:newsml:reuters.com:*:nL5N21V0CD   
    The biggest drag on the STOXX were basic resources stocks
 .SXPP  with London-listed shares of Rio Tinto  RIO.L  falling
more than 1 percent. The mining company is due to release its
production data for the March quarter later in the week.
    Finland's Nokia  NOKIA.HE  weighed on the Helsinki  .OMXHPI 
and the euro zone blue chips index  .STOXX50E  after Goldman
Sachs downgraded the stock to "sell".  urn:newsml:reuters.com:*:nL5N21X10W 
    Nestle  NESN.S , trading without entitlement to its latest
dividend pay-out, dragged down the food & beverages  .SX3P 
    Compass Group  CPG.L  was among the biggest weights on
London's blue-chip index after Barclays downgraded shares of the
world's largest caterer to "equal-weight".

 (Reporting by Medha Singh,Susan Mathew and Agamoni Ghosh in
Editing by Alison Williams and Andrew Heavens)
 ((Agamoni.Ghosh@thomsonreuters.com; +918067491130; Reuters
Messaging: Agamoni.Ghosh.thomsonreuters.com@reuters.net))

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