European shares extend rally, buoyed by Spain
* FTSEurofirst 300, Euro STOXX 50 rise
* Spain gets boost from Moody's
* Volkswagen, HSBC cap gains
By Joshua Franklin
LONDON, Feb 24 (Reuters) - Demand for Spanish equities
helped European shares to extend their rally on Monday to
six-year highs, but worse-than-expected results from HSBC
and a disappointing outlook from Volkswagen
capped the gains.
Spanish stocks rose 0.9 percent after Moody's raised Spain's
sovereign debt rating one notch to Baa2 with a "positive"
outlook. Sentiment was also lifted by data that
showed German business morale rose in February to its highest
level since July 2011.
European stocks have risen sharply over the past 2 1/2
weeks, with the CAC-40 hitting a 5 1/2-year high on Friday,
boosted by hopes the region's economic growth and corporate
profits will recover this year.