* FTSEurofirst 300 rises to six-year high * Euro STOXX 50 also rise * Spain gets boost from Moody's * Volkswagen, HSBC cap gains By Joshua Franklin LONDON, Feb 24 (Reuters) - Demand for Spanish equitieshelped European shares to six-year highs on Monday, butweaker-than-expected results from HSBC and a disappointingoutlook from Volkswagen capped the gains. Spanish stocks rose 1.2 percent after Moody's raisedSpain's sovereign debt rating one notch to Baa2 with a"positive" outlook. Sentiment was also lifted bydata that showed German business morale rose in February to itshighest level since July 2011. European stocks have risen sharply over the past 2-1/2weeks, with the CAC-40 hitting a 5-1/2-year high on Friday,boosted by hopes the region's economy and corporate profits willrecover this year. "The outlook for corporate earnings, helped first by exportsand now by a recovery in domestic demand, is improving," saidAnn Steele, European equity fund manager at ThreadneedleInvestments. "Consumer confidence on the continent is on the up,and countries that have been most prepared to undergo difficultreform are reaping benefits in terms of GDP growth." The pan-European FTSEurofirst 300 closed up 0.6percent at 1,351.65 points, the highest closing price since May2008. The euro zone's blue-chip Euro STOXX 50 indexfinished up 0.8 percent at 3,157.31 points. British mobile operator Vodafone rose 4 percent.Vodafone's shares have gained on the prospect of one of thelargest capital returns in corporate history, after it sells itsstake in U.S. mobile-phone company Verizon Wireless. Slowing the rally, shares in HSBC fell 2.8percent. Europe's largest bank posted results that fell short ofexpectations and warned of more volatility in emergingmarkets. The drop was even sharper for Volkswagen, whichsank 9.2 percent after it issued a disappointing 2014 outlookand announced plans for what some considered a generous buyoutof truck maker Scania's minority shareholders, sendingshares in the latter up 31.9 percent. Worries brewing over credit restrictions on China's propertysector also kept investors on edge. Mining shares, which have a big exposure to resource-hungryChina, retreated, with Rio Tinto down 1.8 percent andAnglo American down 1.7 percent. Around Europe, UK's FTSE 100 index was up 0.4percent, lagging continental indexes. Germany's DAX gained 0.5 percent and France's CAC 40 rose 0.9 percent. "The prospect of a pick-up in growth in the euro zone hasbeen one of the big catalysts for the market in the past fewweeks," said Vincent Ganne, analyst at derivatives broker FXCM. "With a lot of data coming out this week, including Friday'sinflation figures, fund managers' risk appetite will be tested.We need more positive news, otherwise investors will starthaving doubts." Europe bourses in 2014:Asset performance in 2014:Today's European research round-up
UK dividends calendar - next 7 days
Friday 17 November | |
Hays PLC | dividend payment date |
Hays PLC | special dividend payment date |
Howden Joinery Group PLC | dividend payment date |
International Public Partnerships Ltd | dividend payment date |
JPMorgan Japan Small Cap Growth & Income PLC | dividend payment date |
Kingfisher PLC | dividend payment date |
Morgan Advanced Materials PLC | dividend payment date |
Murray International Trust PLC | dividend payment date |
Old Mutual Ltd | dividend payment date |
Schroder European Real Estate Investment Trust PLC | dividend payment date |
Taylor Wimpey PLC | dividend payment date |
Tritax Big Box REIT PLC | dividend payment date |
Monday 20 November | |
Dunelm Group PLC | dividend payment date |
Tuesday 21 November | |
no events scheduled | |
Wednesday 22 November | |
CRH PLC | dividend payment date |
Henderson Eurotrust PLC | dividend payment date |
Thursday 23 November | |
abrdn Asia Focus PLC | ex-dividend payment date |
abrdn Asia Focus PLC | special ex-dividend payment date |
Atrato Onsite Energy PLC | ex-dividend payment date |
Babcock International Group PLC | ex-dividend payment date |
Blackrock Sustainable American Income Trust PLC | ex-dividend payment date |
Blackrock World Mining Trust PLC | ex-dividend payment date |
British Land Co PLC | ex-dividend payment date |
Castings PLC | ex-dividend payment date |
Craneware PLC | ex-dividend payment date |
DCC PLC | ex-dividend payment date |
FRP Advisory Group PLC | ex-dividend payment date |
Great Portland Estates PLC | ex-dividend payment date |
HICL Infrastructure PLC | ex-dividend payment date |
Invesco Asia Trust PLC | dividend payment date |
JPMorgan Asia Growth & Income PLC | dividend payment date |
Kainos Group PLC | ex-dividend payment date |
Land Securities Group PLC | ex-dividend payment date |
Liontrust Asset Management PLC | ex-dividend payment date |
Lok'n Store Group PLC | dividend payment date |
ME Group International PLC | dividend payment date |
National Grid PLC | ex-dividend payment date |
Palace Capital PLC | ex-dividend payment date |
RS Group PLC | ex-dividend payment date |
Scottish Mortgage Investment Trust PLC | ex-dividend payment date |
Serica Energy PLC | dividend payment date |
Tate & Lyle PLC | ex-dividend payment date |
Tatton Asset Management PLC | ex-dividend payment date |
Urban Logistics REIT PLC | ex-dividend payment date |
Vodafone Group PLC | ex-dividend payment date |
Volution Group PLC | ex-dividend payment date |
Witan Investment Trust PLC | ex-dividend payment date |
Young & Co's Brewery PLC | ex-dividend payment date |
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