(ADVISORY- Reuters plans to replace intra-day European and UKstock 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 moredetails. Adds closing prices)
* FTSEurofirst 300 ends up 0.3 percent
* Nestle gains as sales growth beats expectations
* Burberry slumps after second-half sales fall
* Ferrovial top gainer after Exane upgrade
By Sudip Kar-Gupta and Danilo Masoni
LONDON/MILAN, April 14 (Reuters) - European shares inchedhigher on Thursday at the end of a choppy day, with food companyNestle gaining after an encouraging earnings update andFerrovial leading the advance on a broker's upgrade.
The pan-European FTSEurofirst 300 index, which hadrisen 2.6 percent to its highest level since March 14 in theprevious session, ended up 0.3 percent without making a freshclosing high.
The FTSEurofirst remains down around 6 percent since thestart of 2016, as concerns about a China-led economic slowdownhit world stock markets and commodity prices.
But oil prices rose slightly on Thursday after theInternational Energy Agency said a decline in oil output in theUnited States was speeding up.
That helped shares in oil companies such as Total and Royal Dutch Shell turn higher and trade last up 0.6percent and 0.9 percent respectively.
Nestle rose 2 percent as the food group confirmedits full-year outlook after first-quarter underlying salesgrowth beat expectations.
"Nestle has printed a decent number and consensus shouldnudge up. Given the disappointments of the last couple ofquarters, this is extremely encouraging," Kepler Cheuvreuxanalyst Jon Cox said in an emailed comment.
Spanish infrastructure company Ferrovial rose 3.8percent, the biggest gain on the FTSEurofirst, after Exane BNPParibas upgraded the stock to to outperform from underperform.
Burberry slumped 3.6 percent after the Britishluxury goods group reported second-half sales haddeclined.
"Near term, Burberry has high exposure to weakest areas ofluxury demand: 38 percent of global sales to Chinese customersversus 30 percent industry average, 27 percent sales exposure toU.S.," Liberum said, keeping a "sell" rating on the stock.
Today's European research round-up
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Mike Dolan, Markets Editor EMEA. (Editing by Larry King)
