European stocks hit 1-month closing high

* FTSEurofirst 300 up 0.4 pct; hits 1-month closing high

* Financials race higher after soothing corporate results

* Drugmakers, energy shares advance; but Nokia slumps

By Atul Prakash

LONDON, July 16 (Reuters) - European shares hit a one-month closing high on Thursday following a jump in JPMorgan's (JPM.N) profits and after data showed the number of U.S. workers claiming new jobless benefits fell last week.

The FTSEurofirst 300 .FTEU3 index of top European shares climbed 0.4 percent to 866.81 points, the highest close since June 12 after four straight sessions of gains.

The benchmark, which slumped 45 percent in 2008, has gained 34 percent since hitting a record low in early March.

Financial stocks were among top gainers as investors flocked to the shares after reassuring quarterly results from Goldman Sachs (GS.N) on Tuesday and a 36 percent jump in JPMorgan's second-quarter profit on Thursday. [ID:nN16338928]

HSBC (HSBA.L), Barclays (BARC.L), Lloyds (LLOY.L), BNP Paribas (BNPP.PA), Societe Generale (SOGN.PA), Credit Agricole (CAGR.PA) and Natixis (CNAT.PA) jumped 0.5-3.2 percent.

"The results have given support to the market and provided investors a view that there is life after death," said Andrew Bell, head of research at Rensburg Sheppards.

"For the markets to run up to where they were pre-Lehman, you have got to see a significant return to positive growth and a decent bounce in earnings. And that's going to need a contribution from the cyclical companies and from the banks."

Among economic news was surprisingly strong growth of 7.9 percent in China in the second quarter, making it the best-performing major economy and reinforcing hopes it may lead the world out of its deepest recession in 80 years.

"Not only have the earnings surprised to the upside, but the economic data has indicated the worst is over. As the markets rally, investors are rushing to jump on board in the fear of missing the next major move higher," said Angus Campbell, head of sales at Capital Spreads.

Across Europe, UK's FTSE 100 index .FTSE, Germany's DAX .GDAXI and France's CAC 40 .FCHI were up 0.4-0.9 percent.

PHARMA, OILS UP

Drugmakers were also in demand, with AstraZeneca (AZN.L), GlaxoSmithKline (GSK.L), Novo Nordisk (NOVOb.CO), Roche Holding (ROG.VX), Sanofi-Aventis (SASY.PA) and Shire (SHP.L) advancing 0.5-1.6 percent.