* FTSEurofirst 300 up 0.9 pct, Euro STOXX 50 up 1.4 pct * Euro STOXX 50 posts biggest weekly gain since Nov * Valuation ratios getting pricey -BNP Paribas IP * Fitch downgrades Italy after Europe's closing bell By Blaise Robinson PARIS, March 8 (Reuters) - European shares hit their highest level in 4-1/2 years on Friday after robust U.S. jobs data fuelled expectations of a pick-up in global growth while central banks' keep policy supportive.

LONDON, March 7 (Reuters) - European shares edged up in early trade on Thursday, leaving key indexes hovering around multi-year highs and with investors forecasting more market gains in the medium term. The pan-European FTSEurofirst 300 index, which had reached a 4-1/2 year intraday high of 1,193.35 points on Wednesday, rose 0.1 percent to 1,187.61 points by 0807 GMT.

LONDON, March 6 (Reuters) - European shares fell on Wednesday as investors booked profits on a rally that had sent several markets to multi-year highs, led by weakness in the mining sector after metals prices fell. The pan-European FTSEurofirst 300 index provisionally closed down 0.3 percent at 1,185.46 points, falling back after having earlier risen to a 4-1/2 year intraday high of 1,193.35 points. The STOXX Europe 600 Basic Resources Index led fallers, down 1.5 percent, weighed by price falls across the base metals complex.

* FTSEurofirst 300 up 0.3 pct, Euro STOXX 50 up 0.6 pct * FTSEurofirst 300 rises to level not seen since Sept 2008 * Vodafone surges on Verizon tie-up talk By Blaise Robinson PARIS, March 6 (Reuters) - European shares hit their highest since the 2008 collapse of U.S. bank Lehman Brothers on Wednesday, building on their biggest jump so far this year on hopes of a broader global economic recovery.