European shares rise for 4th day; H&M, Vivendi sag
* Weak dollar boosts commodity prices, lifting miners, oils
* H&M falls after weak October sales
* Vivendi slips after gaining control of Brazil's GVT
* For up-to-the-minute market news, click on [STXNEWS/EU]
By Dominic Lau
LONDON, Nov 16 (Reuters) - European shares advanced for the fourth straight session on Monday, with commodity stocks leading the gainers as raw material prices benefited from a weaker U.S. dollar, but retailer H&M (HMb.ST) fell after weak October sales.
By 0841 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 0.6 percent at 1,025.91 points, after closing 0.4 percent higher on Friday to hit a three-week closing for the second day in a row.
Miners were in demand with spot gold XAU= hitting a record high as investors maintained their appetite for gold as a hedge against currencies.
BHP Billiton (BLT.L), Rio Tinto (RIO.L), Anglo American (AAL.L), Xstrata (XTA.L) and Randgold Resources (RRS.L) were up 2.3-4.5 percent.
The United States and China sparred over exchange rates at a meeting of Asia Pacific leaders on Sunday, a move that quashed expectations that China may allow the yuan scope to rise in coordination with U.S. President Barack Obama's first trip to Beijing.
The softer U.S. currency makes commodity assets cheaper for non-dollar-based investors.
Crude prices CLc1 were also higher, aiding energy producers such as BP (BP.L), Total (TOTF.PA) and Royal Dutch Shell (RDSa.L), which put on 0.4-0.8 percent.
"We have overcome this (weakness in late October and early November) because macro-economic data came in much better than expected, even today the Japanese GDP is way stronger from what economists expected," said Franz Wenzel, strategist at AXA Investment Managers in Paris.
Data showed Japan's economy grew 1.2 percent in the third quarter, nearly double the forecast and the fastest pace in more than two years. [ID:nT150510]
"All of that confirms that ... the market is on an uptrend which could easily take the market another 10 to 15 percent higher till the year end. We are basically in the midst of an year-end rally," Wenzel said. Continued...
