4 MIN. DE LECTURA
* FTSEurofirst 300 up 0.2 percent
* BBVA, Airbus lower after disappointing results
* But Deutsche Bank rises on surprise profit (ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report for more details)
By Alistair Smout and Danilo Masoni
LONDON/MILAN, April 28 (Reuters) - European shares were mixed on Thursday, with initial weakness after the Bank of Japan unexpectedly held off from expanding monetary stimulus later counteracted by strength on Wall Street.
The pan-European FTSEurofirst 300 index, which hit a three-month high last week, closed up 0.2 percent at 1373.23, rising off its lows after the Wall Street open.
A rise in Facebook to a record high after its results supported sentiment, while commodity stocks were buoyed as Brent crude rose to its highest level in 2016.
"European markets recovered from sharp early losses as strength in the basic resource sector following a fresh 2016 peak in oil prices unwound some of the dismay at no addition to stimulus from the Bank of Japan," Jasper Lawler, market analyst at CMC Markets, said in a note.
European stocks had tracked a pullback on the Nikkei and other major stock markets after the BOJ's move offset earlier momentum triggered by the U.S. Federal Reserve staying tight-lipped on whether it would raise interest rates in June.
And the euro zone blue chip Euro STOXX 50 was still down 0.2 percent, while Spanish and French stocks also closed in negative territory.
Weighing on Spain's IBEX, BBVA was also the worst-performing stock on the pan-European FTSEurofirst 300, dropping 7.2 percent after it missed estimates with a 54-percent fall in first quarter net profit.
France's Airbus fell 5.6 percent after it reported a heavier-than-expected seasonal outflow of cash and warned of serious challenges for its A400M military plane, even as profits came in slightly ahead of expectations.
"Cashflow was weak in the quarter, reflecting the 2016 delivery profile ... The scale of the free cash outflow in 1Q could cause some concern, but we'd say that this fits with the usual seasonal pattern," analysts at RBC said in a note, rating the stock at "sector perform".
In the UK, Royal Bank of Scotland dropped 2.9 percent in afternoon trade after it said it was likely to miss an end-2017 deadline to sell its William & Glyn brand. RBS said the financial impact on itself would be significantly greater than previous estimates.
Sector peer Lloyds fell 1.6 percent after it reported underlying profits in line with expectations, keeping first quarter revenues steady and cutting bad debts despite the challenging economic environment.
Among the top performers in the banking sector, Deutsche Bank rose 4 percent after it posted a surprise net profit in the first quarter, helped by lower litigation costs.
European mining stocks rose 3.3 percent, led up by a 8 percent surge in Anglo American after it sold more of its businesses in a bid to cut debt.
ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development). In a real-time, multimedia format from 0600 London time through the 1630 closing bell, it will include the best of our market reporting, Stocks Buzz service, Eikon graphics, Reuters pictures, eye-catching research and market zeitgeist. Breaking news and dramatic market moves will continue to be alerted to all clients and we will continue to provide a short opening story and comprehensive closing reports.
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Mike Dolan, Markets Editor EMEA.
Editing by Mark Heinrich