European shares on track for biggest nine-month gain, led by miners
* FTSEurofirst 300 index rises 0.6 percent
* Miners top gainers as metals prices surge
* Givaudan shares rise as maintains targets
* Volkswagen ordinaries rally, outperforming preferentials
By Danilo Masoni and Atul Prakash
MILAN/LONDON, Oct 9 (Reuters) - European shares rose to a one-month high on Friday and were set for their biggest weekly gain since January on stronger mining stocks and renewed hopes that interest rates will stay ultra-low for longer.
The pan-European FTSEurofirst 300 index is up 4.7 percent so far this week, with investors reassured by more stable commodities prices back buying equities despite a string of weak economic data and following a sharp sell-off in August and September. The index was up 0.6 percent on Friday.
The Bank of England on Thursday showed no sign it was close to raising rates, while minutes of the most recent Federal Reserve meeting showed it decided to wait for evidence that the global slowdown would not knock a U.S. recovery off course.
"The market seems to have switched back into a QE-mood where bad news is being interpreted positively as expectations grow that central banks could be induced to further ease their monetary policy stance," said Emanuele Rigamonti, capital structure analyst at JCI Capital in London. Continuación...