By Brian Gorman LONDON, Nov 14 (Reuters) - European shares rebounded early on Friday, led by banks, miners and oils, after a late surge on Thursday in the United States where investors saw bargains in stocks that had fallen to five-year lows. At 0940 GMT the FTSEurofirst 300 index of top European shares was up 2.5 percent at 874.06 points. But the benchmark is down 4.4 percent this week and has lost more than 41 percent so far this year, hit by worries that the banking crisis will result in a deep global recession. The Dow Jones .DJI, S&P 500 .SPX and Nasdaq Composite .IXIC all rose between 6.5 and 6.9 percent on Thursday. "There will be a bit of support today after the rally in the U.S., but there was no new information to drive this, other than the oil majors leading it up after oil prices rose," said Bernard McAlinden, investment strategist at NCB Stockbrokers. "Valuations are low, but everybody knows that already. There's huge volatility." All but one of the 38 sectors of the FTSEurofirst 300 rose, but miners saw some of the sharpest advances, as the price of copper and other metals picked up. BHP Billiton (BLT.L: Quote, Profile, Research, Stock Buzz), Anglo American (AAL.L: Quote, Profile, Research, Stock Buzz), Lonmin (LMI.L: Quote, Profile, Research, Stock Buzz), Kazakhmys (KAZ.L: Quote, Profile, Research, Stock Buzz), Xstrata (XTA.L: Quote, Profile, Research, Stock Buzz), Antofagasta (ANTO.L: Quote, Profile, Research, Stock Buzz) and Rio Tinto (RIO.L: Quote, Profile, Research, Stock Buzz) rose 4.3-9.2 percent. Oils rose, after crude prices CLc1 surged late on Thursday, though they slipped more than 1 percent to $57.47 a barrel on Friday. Total (TOTF.PA: Quote, Profile, Research, Stock Buzz), ENI (ENI.MI: Quote, Profile, Research, Stock Buzz), BP (BP.L: Quote, Profile, Research, Stock Buzz), Royal Dutch Shell (RDSa.L: Quote, Profile, Research, Stock Buzz), Statoil (STL.OL: Quote, Profile, Research, Stock Buzz), BG (BG.L: Quote, Profile, Research, Stock Buzz) rose 3.9 to 6 percent. EADS (EAD.PA: Quote, Profile, Research, Stock Buzz) SURGES EADS (EAD.PA: Quote, Profile, Research, Stock Buzz) rose 5.4 percent after the aerospace group said it would exceed its full-year profit target as it posted third-quarter results above expectations. Spain's Telefonica (TEF.MC: Quote, Profile, Research, Stock Buzz) was up 3.7 percent despite reporting a 28.7 percent fall in net profit.

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