* FTSEurofirst 300 up 1.4 pct, Euro STOXX 50 up 1.5 pct
* Hopes of dovish tone from ECB, help for banks fuel rally
* All eyes on Trichet's press conference
By Blaise Robinson
PARIS, Oct 6 (Reuters) - European shares trimmed gains on Thursday afternoon after the European Central Bank left interest rates unchanged, but market hopes of a dovish tone at ECB President Jean-Claude Trichet's press briefing and fresh measures to help banks kept the rally alive.
Trichet was expected to prepare the ground for a cut before the end of the year and offer banks further protection against the euro zone debt problems.
"Disappointment is likely, unless the press conference gives clear signals of soon-to-come steps to ease the monetary policy stance, such as liquidity injection on a longer-term horizon, restart of the covered bond purchase programme, etc.," a Paris-based trader said.
The Bank of England kept interest rates on hold at 0.5 percent on Thursday and said it will expand its asset purchase programme to a total of 275 billion pounds, highlighting the precarious state of Britain's economy.
At 1217 GMT, the FTSEurofirst 300 index of top European shares was up 1.4 percent at 929.54 points. It was up 1.9 percent shortly before the ECB decision.
The euro zone's blue chip Euro STOXX 50 index was up 1.5 percent at 2,213.32 points, after rising to a five-week high of 2,232.94 points earlier in the session.
The benchmark index, which has rallied about 15 percent since hitting a 2-1/2 year low on Sept. 23, was testing its 50-day moving average on Thursday, a strong resistance level.
Banks rallied sharply, with Natixis up 12 percent, BNP Paribas up 7.7 percent and UniCredit up 2.4 percent.
European Commission President Jose Manuel Barroso said on Thursday the EU's executive has proposed coordinated recapitalisation of the banks, the most explicit statement yet from a top EU official on action to help restore confidence in the bruised banking sector.
Around Europe, UK's FTSE 100 index was up 1.7 percent, Germany's DAX index up 1 percent and France's CAC 40 up 2 percent.
Cyclical shares also rallied, with miner Antofagasta up 8.6 percent and automaker PSA Peugeot Citroen up 4.3 percent.
Shares in troubled Franco-Belgian lender Dexia sank 14 percent, extending this week's losses to 36 percent, on news that the bank could sell its Luxembourg arm, seen as one of its few healthy units. ============================================================ For rolling updates on what is moving European shares please click on ============================================================ For pan-Europeanmarket data and news, click on codes in brackets: European Equities speed guide................... FTSEurofirst 300 index.............................. STOXX Europe index.................................. Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurofirst 300 sectors................... Top 25 European pct gainers....................... Top 25 European pct losers........................
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