UPDATE 1-Italy outperforms as European equity rebound strengthens
* Milan is Europe's top-performing bourse, up 1.6 pct
* Investors welcome likelihood of Renzi as new Italy PM
* FTSEurofirst 300 ends up 0.5 pct at 1,332.30 points
* ESTOXX 50 rises 0.7 pct to 3,119.06 points
* German and French economic growth also lifts equities
By Sudip Kar-Gupta
LONDON, Feb 14 (Reuters) - Italy's stock exchange led European shares higher on Friday as investors reacted positively to Rome's likely new prime minister, while signs of economic growth in Germany and France gave a further fillip.
The pan-European FTSEurofirst 300 index closed up 0.5 percent at 1,332.30 points to mark its seventh rise in eight sessions, while the euro zone's blue-chip Euro STOXX 50 index advanced by 0.7 percent to 3,119.06 points.
Italy's FTSE MIB equity index was the region's best-performing stock market as it rose 1.6 percent to bring its gains since the start of 2014 to nearly 8 percent, outperforming a 1.2 percent rise on the FTSEurofirst 300. Continuación...