European shares rise, just below 13-month high
* FTSEurofirst 300 up 0.8 pct, near 13-month high
* Commodity stocks advance as crude oil, metals prices gain
* Tandberg up on bid news, Hennes & Mauritz slips
* For up-to-the-minute market news, click on [STXNEWS/EU]
By Atul Prakash
LONDON, Nov 16 (Reuters) - European shares advanced for a fourth straight session on Monday to trade just below a 13-month high, with resource-related stocks rising on stronger crude and metals prices, while Tandberg rose on a higher bid offer.
By 1145 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 0.8 percent at 1,027.65 points. A rise above 1,031 would be the highest level for the index in more than 13 months.
Commodity shares were in demand after gold XAU= hit a record high above $1,030 an ounce, platinum XPT= and palladium XPD= rose to their highest levels in more than a year and crude CLc1 climbed 1.1 percent, as a slide in the dollar sparked fund buying.
Miners BHP Billiton (BLT.L), Anglo American (AAL.L), Antofagasta (ANTO.L), Rio Tinto (RIO.L), Xstrata (XTA.L) and Eurasian Natural Resources (ENRC.L) rose 1.8 to 5.5 percent.
Lonmin Plc (LMI.L) rose 8.4 percent after the world's third biggest platinum producer said it planned to boost output by a fifth by 2013 as prices climb on shortages. But it swung to an annual loss on weak prices and lower output. [ID:nLC466308]
Analysts remained positive on the market's near-term outlook and said equities had potential to rise further.
"The economic data flow was mixed over the last couple of weeks, but it's not negative. I think the second half of 2009 will see fairly strong positive growth rates," said Klaus Wiener, head of research at Generali Investments.
"The equity market is also benefiting because there is a complete lack of investment alternatives. Looking at the investment opportunities you have, equities are still ranking high," he added.
Energy shares were up. BG Group (BG.L), BP (BP.L), Royal Dutch Shell (RDSa.L), Tullow Oil (TLW.L), Repsol (REP.MC), Total (TOTF.PA) and StatoilHydro (STL.OL) added 0.2 to 2.1 percent.
Across Europe, Britain's FTSE 100 index .FTSE, Germany's DAX .GDAXI and France's CAC 40 .FCHI rose 0.9-1.1 percent.
