European stocks rise to fresh 3-wk closing high

* FTSEurofirst 300 closes 0.4 pct higher

* Index up 2.7 pct on the week

* Richemont rises after earnings

* HSBC advances on dividend hike hopes

By Brian Gorman

LONDON, Nov 13 (Reuters) - European stocks closed higher on Friday, as upbeat earnings news from companies such as luxury goods provider Richemont (CFR.VX) more than outweighed weaker-than-expected U.S. consumer sentiment data.

The FTSEurofirst 300 .FTEU3 index of top European shares rose 0.4 percent to 1,019.41 points, its highest close since Oct 21, and just 0.7 percent short of a 13-month closing high.

Over the week, the index rose 2.7 percent and is up more than 57 percent from the all-time low of March 9, as investors have seen several major economies emerge from recession.

But the market had to contend with some downbeat macro data on Friday.

U.S. consumer sentiment fell in early November to the weakest in three months amid grim expectations for job and income prospects, according to the Reuters/University of Michigan Surveys of Consumers, which said its preliminary index of sentiment for November fell to 66.0, the lowest since August, from 70.6 in October. [ID:nN13145905]

"I thought the market would respond more negatively to the U.S. consumer data," said Heino Ruland, strategist at Ruland Research, in Frankfurt.

"It goes to show that people are convinced that the Federal Reserve will continue with accommodative, if not expansionary, monetary policy. Sometimes Asian markets react more to this sort of data the following Monday, as they rely more on the U.S. consumer."

Corporate news helped to boost stocks.

Richemont, which posted forecast-beating results, indicating the watch industry could be set for recovery, surged 5.6 percent. Swatch Group (UHR.VX), which also makes watches, rose 2.7 percent.

Italian jeweller Bulgari (BULG.MI) added 5 percent after saying it returned to a net profit in the third quarter.