Banks, commods push European shares to 2-week high

* FTSEurofirst 300 index up 1.6 pct, hits 2-week high

* Financials gain; Allianz up as earnings beat forecasts

* Commodity shares up; higher crude, metals prices support

* For up-to-the-minute market news, click on [STXNEWS/EU]

Atul Prakash

LONDON, Nov 9 (Reuters) - Buoyant commodity and financial shares helped European stocks to hit a two-week high on Monday, supported by stronger crude and metals prices and after the Group of 20 pledged to keep the aid until recovery was assured.

The FTSEurofirst 300 .FTEU3 index of top European shares rose for a fourth straight session and was up 1.6 percent at 1,008.44 points by 1153 GMT. It touched an intra-day high of 1,010.07, the highest level since Oct 26.

Investors' appetite for risky assets such as equities grew, with the VDAX-NEW volatility index .V1XI falling 3.4 percent to a two-week low. The lower the index, which is based on sell and buy options on Frankfurt's top-30 stocks <0#.GDAXI>, the higher the market's desire to take risk.