Europe shares end higher; banks rally on stimulus hopes

martes 25 de noviembre de 2014 13:48 GYT

* FTSEurofirst 300 up 0.2 pct, euro bank index up 1.2 pct

* Expectation of QE programme by ECB boosts banks

* Allianz GI CIO sees volatility, favours dividend stocks

By Blaise Robinson

PARIS, Nov 25 (Reuters) - European stocks ended slightly higher on Tuesday as euro zone banking shares climbed on mounting expectation of more stimulus from the European Central Bank.

The rise in financials was partly offset by losses in resource-related shares, hurt by a recent slump in crude oil and metal prices. BHP Billiton lost 1.7 percent, BP fell 1.1 percent and Total dipped 1.6 percent.

Crude prices fell again on Tuesday, down by more than $1 a barrel to near four-year lows, after a meeting between Saudi Arabia, Venezuela and major non-OPEC oil exporters ended with no deal on curbing output before Thursday's summit of the Organization of the Petroleum Exporting Countries.

The FTSEurofirst 300 index of top European shares ended 0.2 percent higher at 1,388.87 points, after rising as far as 1,395.34 earlier in the session, a level not seen since Sept. 22.

The benchmark index has surged nearly 15 percent from a low hit in mid-October, bolstered by the prospect of further ECB easing as well as recent policy measures in Japan and China.   Continuación...