RPT-Telecoms, miners help European shares end higher

Repeats to add stock symbol

By Sitaraman Shankar

LONDON, May 22 (Reuters) - European shares ended higher on Thursday, lifted by telecom stocks and miners, while German banks gained on consolidation talk and a dip in the price of crude took energy stocks lower.

The pan-European FTSEurofirst 300 index of top European shares ended 0.33 percent higher at 1,345.11 points, with telecoms contributing most points to the index.

Vodafone (VOD.L: Quote, Profile, Research) gained 3 percent as investors bet on strong results next week, traders said. Cable & Wireless (CW.L: Quote, Profile, Research) rose 2.7 percent after it said it was demerging its two divisions.

Telecom Italia (TLIT.MI: Quote, Profile, Research) rose 4.6 percent on relief that a regulator's ruling on termination rates was less severe than expected.

Among banks, Commerzbank (CBKG.DE: Quote, Profile, Research) gained 2.4 percent and Deutsche Postbank (DPBGn.DE: Quote, Profile, Research) rose 1.2 percent on a German magazine report that Commerzbank and Allianz (ALVG.DE: Quote, Profile, Research) had bid 10 billion euros ($15.76 billion) for Postbank. Allianz, however, fell 3.5 percent.

Spokesmen from Allianz, Postbank and Commerzbank said on Thursday they would not comment on speculation.

Analysts said markets were likely to drift in the short term.