Italy leads Europe shares higher after EU vote result
* Italy's FTSE MIB outperforms as Renzi wins EU vote
* Pro-EU forces keep majority after European election
* French CAC lags, Germany's DAX hits record high
* London, New York closed for public holiday
By Atul Prakash
LONDON, May 26 (Reuters) - European equities advanced in thin trading on Monday, with Italian shares outperforming the regional market after voters endorsed Prime Minister Matteo Renzi's centre-left Democratic Party's reforms in European elections.
Results from around the 28-nation bloc showed pro-European centre-left and centre-right parties will keep control of around 70 percent of the 751-seat EU legislature, but the number of Eurosceptic members will more than double.
"People were afraid that Eurosceptic parties would emerge as big winners. In some countries they are big winners, but the outcome is not as bad as feared," Koen De Leus, senior economist at KBC, in Brussels, said. "For example, election results from Italy suggest that Renzi would be able to continue his reforms."
Italy's FTSE MIB rose 3 percent, outpacing other major European indexes, boosted by gains in domestically focused banks including UBI Banca and BP Milano, up 5.5 percent and 6 percent respectively. Continuación...