European shares hit 1-week closing high; banks up

* FTSEurofirst 300 closes 0.8 percent higher

* Banks gain on optimism for orderly Greek debt deal

* Solvay jumps after first-quarter results

* Miners gain on China trade data

By Brian Gorman

LONDON, May 10 (Reuters) - European shares rose on Tuesday, with sharp gains for banks on hopes that they will not suffer any imminent writedown on their Greek debt holdings, and miners up as strong Chinese import data fuelled growth hopes.

The pan-European FTSEurofirst 300 <.FTEU3> index of top shares rose 0.8 percent to 1,149.62 points, the highest close in a week, after concern over the peripheral euro zone debt outlook had dragged shares lower in the previous session.

"There is a view that if there is going to be a debt restructuring, it is going to be orderly," said Bob Parker, senior adviser at Credit Suisse, which has 1.28 trillion Swiss francs under management.

"There was a fear last week that investors and banks would have to take a writedown in the very near future. The fear factor is now reduced. I think there will be debt restructuring but early next year, and any hit will be amortised rather than immediate, which is very important indeed."

Greek banks <.FTATBNK> rose 5.4 percent, with Alpha Bank up 9.3 percent. Other banks to rise included heavyweights BNP Paribas , Societe Generale and UniCredit , up between 2.1 and 2.3 percent.

The pan-European index has remained in a range defined by its 2011 high in mid-February, and a low in mid-March.

"We think equities will go up, but not much, and there will be some sideways trading. Our attitude is to focus on high-yield, defensive sectors, and large caps," Parker said.

Almost every sector gained on Tuesday, with miners among the biggest risers on demand hopes after China posted a bigger trade surplus than expected.

The STOXX Europe 600 basic resources sector index <.SXPP> rose 1.5 percent, with Rio Tinto , BHP Billiton and Xstrata gaining between 1.6 and 2.4 percent.

Across Europe, Britain's FTSE 100 <.FTSE>, Germany's DAX <.GDAXI> and France's CAC40 <.FCHI> ended the day between 1.1 and 1.3 percent higher.

The Thomson Reuters Peripheral Eurozone Countries Index <.TRXFLDPIPU> was up 1.5 percent.

DOUBTS REMAIN

However, some strategists were still concerned about the euro zone. "I'm still negative. It is inevitable that there will be a default in the peripheral sovereigns - you can call it reprofiling if you like, but the impact on European banks could be quite significant," said David Coombs, fund manager at Rathbone Brothers, which has 15.2 billion pounds under management.

"Whatever Greece does, you can bet that Portugal and Ireland will follow."

Greece denied a report on Tuesday it was discussing a new 60 billion-euro bailout with international lenders and its borrowing costs rose amid fears it may have to restructure its debt without further EU help. [ID:nLDE7491FC]

Looking at the technical picture, the euro zone's blue-chip Euro STOXX 50 <.STOXX50E> rose 1.3 percent to 2,939.02 points, breaking above its 50-day moving average, a positive signal for equities.

Investor appetite for riskier assets increased, with the Euro STOXX 50 volatility index <.V2TX> -- Europe's main barometer of anxiety -- down 4.5 percent after surging on Monday. The lower the volatility index, the higher investor appetite for risky assets such as stocks.

Among individual stocks, Belgian chemicals group Solvay rose 8.3 percent after first-quarter operating profit, reported late on Monday, beat estimates. Volume was more than three times the 30-day average. [ID:nLDE74813U]

BG Group was among the small number of fallers, down 1.6 percent, with volumes at two and a half times the average, after civil unrest in Egypt and Tunisia hit production and profits at the British gas and oil producer in the first quarter and forced it to cut its output growth forecast for this year. [ID:nLDE74908Z] (Editing by Greg Mahlich)