European shares gain after G20, banks higher

LONDON, Nov 9 (Reuters) - European shares were high in early trade on Monday after the Group of 20 pledged to keep the aid flowing until the recovery was assured, with banks and commodities the major gainers.

By 0808 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 1.2 percent at 1,004.79 points, on track for the fourth day of gains.

"The markets have not been given any excuse to do a lot of correcting. The earnings and economic numbers have been coming through good," said Bernard McAlinden, strategist at NCB Stockbrokers.

"At the G20 meeting, the members agreed to keep the stimulus in place," said McAlinden.

Group of 20 finance ministers and central bankers pledged on Saturday to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured. [ID:nL7204184]

Banks added the most points to the pan-European index. Societe Generale (SOGN.PA), BNP Paribas (BNPP.PA), Banco Santander (SAN.MC) and Barclays (BARC.L) were up 0.9 to 2.7 percent.

Miners were in demand as gold reached another record high. Anglo American (AAL.L), Antofagasta (ANTO.L), BHP Billiton (BLT.L), Eurasian Natural Resources Corp (ENRC.L), Rio Tinto (RIO.L) and Xstrata (XTA.L) were 0.6 to 2.5 percent higher.

Energy stocks were in favour as crude CLc1 rose 1.8 percent. BG Group (BG.L), BP (BP.L), Royal Dutch Shell (RDSa.L) and Total (TOTF.PA) were up 0.9 to 2 percent. (Reporting by Joanne Frearson)