PARIS, March 5 (Reuters) - The broad STOXX Europe 600 benchmark share index hit its highest level since mid-2008 on Tuesday, led by a sharp rally in European banking stocks. At 0840 GMT, the index was up 1.14 percent at 292.22. It has gained 40 percent since a floor hit in September 2011. The STOXX Europe 600 Banking Index was among the top gaining sectors, up 1.8 percent, buoyed by gains for Standard Chartered after it posted results.

LONDON, March 1 (Reuters) - European shares edged lower on Friday, impacted by weaker bank and mining stocks, and traders expected equities to stay trapped in a tight range this month with uncertainty over Italian elections denting sentiment. The pan-European FTSEurofirst 300 index provisionally closed down 0.2 percent at 1,169.21 points while the euro zone's blue-chip Euro STOXX 50 index fell 0.6 percent to 2,617.45 points.

(Fixes index volume level in penultimate paragraph) * FTSEurofirst 300 up 1.2 percent * Ifo sees biggest rise since July 2010 * Volkswagen drops, cautions on 2013 outlook By Tricia Wright LONDON, Feb 22 (Reuters) - European shares rose on Friday in a broad-based rally as investors took advantage of the previous session's steep falls to pick up equities more cheaply, though traders cited some caution given weekend elections in Italy.

* FTSEurofirst up 0.7 pct, Euro STOXX 50 up 0.9 pct * Equities recover after sharp fall on Thursday * Fears over Italy, central bank help seen short-lived * Mining stocks lead broad-based equity rally By Sudip Kar-Gupta LONDON, Feb 22 (Reuters) - European shares rebounded on Friday, with traders scooping up stocks such as miners on the back of earlier falls, on expectation that worries over Italy and an end to central bank stimulus would be short-lived.