MILAN, Feb 5 (Reuters) - European shares hit nine-week highson Tuesday as a recovery in banks and gains in oil stocks onstronger crude prices and a solid update from major BPhelped offset some disappointing updates including from Applesupplier AMS.
The pan-European STOXX 600 index up 0.5 percent atits highest since Dec. 3 at 0839 GMT, while euro zone stocksadded 0.4 percent and the commodity-heavy FTSE 100rose 0.8 percent.
BP said its profit doubled to $12.7 billion in 2018,driven by strong growth in oil and gas output following theacquisition of a large portfolio of U.S. shale assets.
Its shares rose 3.4 percent, set for their best day sinceSeptember 2016, helping the oil index lead sectoralgainers in early trading, up more than 1 percent.
Gains in iron ore prices amid worries about falling outputfrom top producer Vale supported miners, while euro zonebanks, which have been under pressure due to concernsover a slowing economy and dovish central bank stances,recovered after six straight session of losses.
Earnings drove the biggest share price moves.
Top faller on the STOXX 600 was AMS, down more than12 percent after the sensor specialist and Apple supplierskipped its dividend and said first-quarter revenue would fallamid continued weak smartphone demand.
In the same sector Infineon managed to shrug offa disappointing update, suggesting that recent price falls mayhave priced in the worsening outlook for the sector.
The firm forecast full-year revenue growth to the bottom ofits earlier range, as the maker of high-performance power chipsblamed increasingly difficult business conditions.
Pandora rallied 12 percent after announcingplans to make cost savings of 1.2 billion crowns as it faces adrop in organic revenue growth of between 3 and 7 percent thisyear.(Reporting by Danilo Masoni; editing by Josephine Mason)