Miners lead European shares up, Zodiac zooms higher

(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report for more details) (Updates prices)

* Shares (Berlin: DI6.BE - news) rise after five-day losing streak

* Zodiac surges after higher sales, reassuring outlook

* British housebuilders fall on Brexit concerns

* Zara owner Inditex (Amsterdam: IT6.AS - news) lifted by strong update

By Sudip Kar-Gupta

LONDON, June 15 (Reuters) - European shares rose on Wednesday after a five-day losing streak caused by jitters over next week's British referendum on European Union membership, with Zodiac Aerospace (LSE: 0NR6.L - news) surging after posting higher sales.

The pan-European FTSEurofirst 300 index was 1.4 percent higher by 1435 GMT, as was the pan-European STOXX 600 index. Both had fallen to their lowest levels in nearly four months on Tuesday and are down around 10 percent year to date.

Mining stocks were among the best performers, with Anglo American and Antofagasta (Other OTC: ANFGF - news) up by more than 6 percent, as metal prices advanced.

Traders said the likelihood that the U.S (Other OTC: UBGXF - news) . Federal Reserve would keep interest rates unchanged on Wednesday was also helping to support stock markets, as lower rates reduce investors' returns on bonds and their appeal compared to stocks.

"It (Other OTC: ITGL - news) 's a minor turnaround to the negative sentiment of the last few days, but there is a bit more risk appetite across the board, with the Fed's likely position lending a bit of support," said Hantec Markets' analyst Richard Perry.

Zodiac shares rose more than 10 percent after the company reaffirmed financial targets for 2015/16 as it posted a 5.9 percent rise in nine-month revenues.

Spain's Inditex rose more than 5 percent after the world's biggest clothing retailer posted a forecast-beating rise in profits as fast turnover allowed the owner of fashion chain Zara to react quickly to unseasonable weather.

British housebuilders such as Berkeley and Taylor Wimpey fell after Berkeley said there was a 20 percent drop in reservations of new homes at the start of the year, due partly to concerns over the EU vote.

While betting odds still predict that the most likely outcome next week is that Britons will vote to stay in the EU, the gap between those backing an exit and their opponents seeking to stay has narrowed.

Economists have warned that leaving the EU would hurt the British economy. That possibility has hit sterling in recent months and the FTSE 100 has started to track the pound lower.

While sterling weakness could benefit the FTSE's international companies, it is also likely to impact domestic consumer confidence. A decision to leave is also expected to hit the broader European economy and markets.

Andreas Clenow, chief investment officer of ACIES Asset Management in Zurich, said he had "short" positions betting on a fall in European markets but was reducing the size of those bets given the uncertainty ahead of next week's Brexit vote.

"We're already in a bear market in Europe and fears over Brexit are adding further pressure and uncertainty to markets," he said.

Today's European research round-up

ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon (see cpurl://apps.cp./cms/?pageId=livemarkets for site in development). In a real-time, multimedia format from 0600 London time through the 1630 closing bell, it will include the best of our market reporting, Stocks Buzz service, Eikon graphics, Reuters pictures, eye-catching research and market zeitgeist. Breaking news and dramatic market moves will continue to be alerted to all clients and we will continue to provide a short opening story and comprehensive closing reports.

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Mike Dolan, Markets Editor EMEA. (Additional reporting by Danilo Masoni in Milan, Editing by Richard Balmforth)