(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 details, updates prices)
* FTSEurofirst 300 rises 0.2 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 climbedto their highest in a month on Thursday, with food companyNestle among the leading gainers after an upbeat earnings updateand Ferrovial lifted by a broker upgrade.
The pan-European FTSEurofirst 300 index, which hadrisen 2.6 percent to close at its highest level since March 14in the previous session, was up 0.2 percent at 1425 GMT.
The FTSEurofirst remains down around 6 percent since thestart of 2016, as concerns about a China-led economic slowdownhave hit world stock markets and commodity prices, given China'srole as a major consumer of oil and metals.
But oil prices rose slightly on Thursday, reversing initiallosses, after the International Energy Agency trimmed itsforecast for demand growth but said a fall 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 0.7 percent respectively.
Nestle rose 2.1 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 4percent, the biggest gainer on the FTSEurofirst, helped by anupgrade to outperform from underperform from Exane BNP Paribas.
Burberry slumped 3.1 percent after the Britishluxury goods group reported a fall in second-half sales.
"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 Mark Heinrich and Mark Potter)