* STOXX up 0.7 pct; DAX at record high, CAC at 9-year peak
* More than 80 pct of European firms beat revenues so far
* Banks led higher by HSBC jump
* Oil stocks turn lower as crude prices slump
* Well-received earnings boost InBev, Andritz, Ferrari (NYSE:RACE) (Adds details, closing pries)
By Danilo Masoni and Kit Rees
MILAN, May 4 (Reuters) - European shares powered ahead on Thursday as earnings, economic data and politics aligned to boost the market to further highs.
The pan-European STOXX 600 .STOXX index rose 0.7 percent, holding at 20-month highs, while German blue chips .GDAXI soared to an all-time high and France's CAC .FCHI climbed to its highest in more than nine years.
As the European earnings season nears the halfway mark, more than 80 percent of companies have beaten analyst expectations for revenues, showing that a recovery in demand is driving sales, according to Thomson Reuters I/B/E/S data. numbers (for Europe) are stronger than in the U.S., with the average earnings surprise standing at more than 10 percent, while sales surprises are a strong 2.4 percent," analysts at Credit Suisse (SIX:CSGN) said in a note.
Also supporting the region's stocks were signs that centrist Emmanuel Macron is set for victory in France's presidential election on Sunday, and a survey showing euro zone businesses started the second quarter by turning out their best performance in six years. banks .SX7P rose 1.5 percent after lender HSBC HSBA.L jumped 2.9 percent, having posted a better-than-expected first-quarter profit and capital position. we view this as a positive set of results," Gary Greenwood, analyst at Shore Capital Markets, said in a note, adding that the figures could potentially push up forecasts.
Likewise a bullish statement from the U.S. Federal Reserve after it kept interest rates on hold helped the sector, as banks benefit from a higher interest rate environment. and gas stocks .SXEP slipped 0.1 percent, reversing earlier gains as crude fell to its lowest since November. Concern over rising global supply and high inventories effectively wiped out most of the gains made since OPEC announced its first supply cut in eight years. Statoil STL.OL and Royal Dutch Shell RDSa.L managed to eke out small gains, both up around 0.3 percent, following robust earning updates from both. have seen a sharp recovery in profits and strong cash flow from Royal Dutch Shell this quarter," said Simon Gergel, UK equities CIO at Allianz (DE:ALVG) Global Investors.
"The company has generated sufficient cash to cover capital expenditure and the full cost of dividends ... This provides further reassurance about the benefits of the BG deal to the group's cash flow and the sustainability of the company's dividends."
Results also boosted shares in brewer AB InBev ABI.BR and Austrian engineer Andritz ANDR.VI , Italy's Leonardo LDOF.MI and Ferrari RACE.MI , which were among top gainers in Europe.
Swedish biometric firm Fingerprint Cards FINGb.ST was the biggest STOXX faller, dropping 6.4 percent after a disappointing first quarter report. Fingerprint's operating profit slumped 88 percent, well below expectations, weighed down by excess inventories. retailer Next NXT.L was also under pressure, down 5.1 percent after cutting the top end of its full-year profit guidance. mining firms .SXPP fell 2.3 percent as copper, aluminium and gold prices sagged, weighing on shares of aluminium producer Norsk Hydro NHY.OL , Centamin CEY.L and Anglo American AAL.L .