Banks and miners push European stocks higher

LONDON, Aug 6 (Reuters) - European stocks rose on Wednesday, with banks gaining ground after BNP Paribas (BNPP.PA: Quote, Profile, Research) delivered better-than-expected earnings and commodities rallied after Xstrata (XTA.L: Quote, Profile, Research) launched a $10 billion bid for Lonmin (LMI.L: Quote, Profile, Research).

The FTSEurofirst 300 index of top European shares provisionally closed 0.9 percent higher at 1193.31 points, tapping a 7-week closing high following a 2.6 percent rally on Tuesday. Markets were relatively calm and the FTSEurofirst traded between 1,181.95 and 1194.40.

Banks were among the biggest risers after BNP Paribas (BNPP.PA: Quote, Profile, Research) beat expectations with its second-quarter earnings report. The stock gained 5.2 percent.

The DJStoxx European Banks index rose 1.2 percent.

In a note to clients, Cheuvreux highlighted the group's resilient performance in its French and Italian retail operations as well as a good overall corporate and investment banking performance.

Societe Generale (SOGN.PA: Quote, Profile, Research) added 3 percent and UBS (UBSN.VX: Quote, Profile, Research) rose 3.7 percent. Commerzbank (CBKG.DE: Quote, Profile, Research) on the other hand fell 1.5 percent as investors feigned their disappointment over its outlook despite solid second-quarter numbers.

"The results from BNP and Commerzbank were ok, which helped and the Federal Reserve also reassured at the margins," said Bernard McAlinden, market strategist at NCB Stockbrokers in Dublin.

"Its statement implicitly seemed to signal that they are not cloe to raising rates and that helped as well," he added.

(Reporting by Patrizia Kokot)