European shares rise early, miners advance

FRANKFURT, Nov 25 - European shares rose early on Wednesday after losses in the previous session, as a revised U.S. growth forecast for 2010 by the Federal Reserve boosted stocks, with miners featuring among the top gainers.

At 0819 GMT, the FTSEurofirst 300 <.FTEU3> index of top European shares was up 1 percent at 1,026.78 points.

The benchmark is still up about 59 percent from its lifetime low of March 9, and has gained 23.3 percent year-to-date.

Data from Tuesday showed that the U.S. economy grew at a slower-than-expected pace in the third quarter, but the Federal Reserve revised upwards its growth estimate for 2010, offsetting the negative news. [ID:nN24317144]

"Good macro news will always serve as a justification for a rise in the markets," said Giuseppe-Guido Amato, strategist at German brokerage Lang & Schwarz. Mining stocks were up, with the DJ STOXX European Basic Resources Index <.SXPP> as the main sectoral gainer, while Anglo American <AAL.L> and BHP Billiton <BLT.L> were up 2.6 percent and 2.1 percent respectively.

Later in the day, investors await a slew of U.S. macroeconomic data, including consumption, home sales and jobless claims.

Across Europe, Britain's FTSE 100 <.FTSE>, Germany's DAX <.GDAXI> and France's CAC-40 <.FCHI> were higher between 0.7 and 0.9 percent. ((christoph.steitz@thomsonreuters.com; +49 69 7565 1269; Reuters Messaging: brian.gorman.thomsonreuters.com@reuters.net))