UPDATE 2-Weak euro, Wall Street rally buoy European shares

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* STOXX 600 ends Sept up 3.4%
* Euro down 0.3% on worries about euro-zone growth
* JPMorgan raises euro zone equities to "overweight"

(Updates to close)
By Susan Mathew
Sept 30 (Reuters) - European shares rose on Monday, with a
higher open on Wall Street bolstering gains later in the
session, while exporters were helped by a decline in the value
of the euro.
With Wall Street driven by a rally in iPhone maker Apple
AAPL.O , investors seemed to shrug off fresh concerns about
U.S.-China trade negotiations and looming U.S. tariffs on
European imports. .N
The benchmark European index .STOXX closed 0.4% higher and
clocked its best monthly gain since June. It rose nearly 2% in
the third quarter to bring year-to-date gains to around 16%.
"Stocks are largely positive as we approach the close as
traders are a little less fearful about the U.S.-China trade
situation," said David Madden, a market analyst at CMC Markets
UK, shortly before trading ended for the day.
Euro-zone blue-chips .STOXX50E rose 0.7% on the day as
companies that earn their revenue in dollars were boosted by a
fall in the euro on concerns about euro zone growth.
Germany's leading economic institutes have revised down
their growth forecast for Europe's biggest economy for this
year, sources told Reuters on Monday, the same day data showed
German annual inflation unexpectedly slowed for the third
consecutive month in September. But Carsten Brzeski, chief economist at ING Germany said
lower inflation indicated that "the feared growing contagion
from the manufacturing meltdown to the rest of the German
economy is not (yet) materialising".
"Even better, private consumption should benefit from lower
inflation rates in the coming months," he added.
Germany's DAX index .GDAXI rose for a third session,
adding 0.4%.
JPMorgan raised its rating on euro zone equities to
"overweight", saying the bloc's battered stocks have been under
owned and predicting an opportunity for them to bounce back.
Commodity-linked stocks .SXPP and oil majors .SXEP
closed lower, weighing on London stocks .FTSE , while all other
major sectors in Europe ended higher. .L
There were, however, signs of underlying worries with
defensive sectors such as utilities .SX6P , real estate
.SX86P and food and beverage .SX3P among the top gainers.
A report on Friday said the United States might limit
Chinese company listings on its stock exchanges, fueling more
U.S.-China trade angst ahead of critical negotiations next
week. However, White House trade adviser Peter Navarro on Monday
dismissed reports that the Trump administration was considering
delisting Chinese companies from U.S. stock exchanges as "fake
news." Equity markets rallied in September on monetary easing from
the European Central Bank and the U.S. Federal Reserve, and
hopes of a resolution to the economically damaging trade war.
But gains have slowed substantially from the 12% increase
posted by European shares in the first quarter of the year as
concerns linger about the health of the euro zone economy, as
well as trade.
All eyes are now on an announcement by the World Trade
Organization (WTO), which is expected to grant the United States
a record award allowing it to hit European imports with billions
of dollars of tariffs in a long-running aircraft subsidy
dispute. GlaxoSmithKline GSK.L gained 1.1% after its maintenance
therapy for a form of ovarian cancer reduced the risk of disease
progression or death.