* FTSEurofirst 300 up 0.4 percent
* China imports and exports up, helping resources stocks
* Henkel helps DAX to new all-time high
* Standard Chartered slump after rare profit fall
By Alistair Smout
LONDON, May 8 (Reuters) - Demand for miners helped European
shares rise on Wednesday, following strong Chinese trade data
which served to underpin major European indexes around
Signs of a better outlook for China helped maintain bullish
sentiment in equities which on Tuesday saw German and U.S.
stocks hit record highs.
STOXX 600 Basic Resources, which include mining and
commodity related stocks, rose 1 percent along with a firmer
copper price following the data.
"The miners will get a short term bounce, although I still
think that will be a losing position if you held it for the rest
of the year," Rober Quinn, chief of European equity strategy at
Standard and Poor's Capital IQ, said. The sector is down 13
percent on the year.
European shares are at multi-year or record highs despite
weak domestic economic data, thanks in part to hopes of growth
in China and the United States as well as central bank stimulus
helping to support asset prices.
By 1022 GMT, the FTSEurofirst 300 was up 0.4
percent at 1,225.34, having hit 1,225.65, its highest level
since July 2008.
"Optimism is very strong. I don't see how we get much higher
than here in the near term, but you don't fight a winning market
like this," Quinn added.
The German DAX built on the all-time highs set on
Tuesday, up 0.5 percent, led up by a 5.8 percent rise in Henkel
The consumer goods group posted a better-than-expected rise
in first quarter operating profit on strong demand for its
washing powders, cleaning products and shampoos.
In general, Europe's earnings season has been disappointing,
with 53 percent of STOXX 600 companies having missed
expectations in the year to date, compared with 27 percent in
the United States, Thomson Reuters StarMine data shows.
One weaker reporter on Wednesday was Standard Chartered
, down 4.8 percent after suffering a drop in
first-quarter operating profit the session after good results
for peer HSBC had fuelled optimism for its report.
"HSBC's results yesterday were pretty good, and sympathy
with that took them up higher last session... Revenue and profit
have hit them, and a couple of clients have wanted to short it,
but it's still a good bank," Richard Curr, head of dealing at
Prime Markets, said.
Curr added that he saw the stock at a long term value buy
around the three-month low around 1,560 pence.