* FTSEurofirst 300 down 0.2 pct, Euro STOXX 50 down 0.2 pct
* Vodafone rises after strong results, Vallourec drops
* Portuguese stocks underperform on political uncertainty (Adds quote, detail)
By Danilo Masoni and Alistair Smout
MILAN/LONDON, Nov 10 (Reuters) - European shares turnedhigher on Tuesday in volatile trade, supported by a weak euroeven as losses among commodity stocks and political uncertaintyin Portugal weighed.
Vodafone rose almost 5 percent after the Britishphone group reported a better-than-expected acceleration insecond-quarter revenue growth, helping it nudge its annualexpectations towards the top of its guidance.
Experian was the top riser on the FTSEurofirst 300, up 6.7 percent after it beat first half earningsexpectations.
In all, 50 percent of STOXX 600 companies that havereported earnings have beaten or met expectations, ThomsonReuters Starmine data showed.
The pan-European FTSEurofirst 300 was up 0.2 percent, withthe euro zone's blue-chip Euro STOXX 50 index up thesame amount.
The index turned higher after the euro hit a 7-month lowagainst the dollar, boosting stocks, especially exporters.
It had been under pressure from weakness in commoditystocks, which remained among the the day's top fallers.
The STOXX 600 Basic Resources index was down 0.4percent, off its lows, with a firmer dollar and prolongedeconomic weakness in top metals consumer China keeping coppernear a six-year low.
"The central tenet of what's going on, especially incommodity prices and the general slowdown in global growth, isthat for a long time, we have been relying on China," saidAlastair Irvine, product specialist for Jupiter's IndependentFunds Team.
"They are trying to rebalance the economy... but it'ssomething that's going to take a long time."
Construction sector stocks were also weaker, withFrench construction and concessions company Eiffage falling more than 3 percent after weak domestic business weighedon its quarterly results.
Roberto Lottici, a fund manager at Italy's Ifigest, saidexpectations of central bank support were providing a floor forEuropean equities but recommended investors pick out individualstocks and consolidate gains as the year end approaches.
Vallourec fell more than 9 percent after reportinga third-quarter loss against a backdrop of falling demand fromits oil and gas customers and said it did not expect marketconditions to improve in the short-term.
Portugal's PSI 20 index fell 0.1 percent butremained off its lows. It is down over 4 percent this week.Leftwing parties formalised a deal to oust a minoritycentre-right government on Tuesday.
While the prospect of a leftist government has unnervedinvestors in recent days, the index rallied off lows after themotion presented to parliament would respect the country'sinternational commitments and budget consolidation. (Editing by Jon Boyle)
Vodafone (VOD)
