Europe shares up on German GDP data, Fed statement

LONDON, Aug 13 (Reuters) - European shares drifted higher early on Thursday, with sentiment improving after the Federal Reserve said the U.S. economy was showing signs of levelling out and data showed German GDP rose in the second quarter.

At 0711 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 0.4 percent at 946.05 points. The index, which slumped 45 percent in 2008, has gained 13 percent this year and is up 46 percent since a lifetime low in March.

"Overall market sentiment is pretty positive," said Koen De Leus, economist at KBC Securities.

"What is very surprising today is that the German economy is growing and that's a big help for the market, but the most important thing today is going to be the retail sales figures in the United States."

U.S. retail sales data for July is due at 1230 GMT.

German gross domestic product rose unexpectedly by 0.3 percent in the second quarter, bringing an end to the country's deepest recession since World War Two and boosting hopes of recovery in the broader euro-zone. [ID:nLD74996]

Banks were among the top gainers, with Standard Chartered (STAN.L), Barclays (BARC.L), Lloyds (LLOY.L), Royal Bank of Scotland (RBS.L), BNP Paribas (BNPP.PA) and Societe Generale (SOGN.PA) gaining 0.5-3.7 percent.

Anheuser-Busch InBev (ABI.BR) fell 2.1 percent after it said that the second half of the year would be significantly weaker. It reported second-quarter profit above analyst forecasts. [ID:nLD280809] (Reporting by Atul Prakash)