UPDATE 2-European shares hold four-year peak, creep towards record highs

* STOXX 600 creep towards record highs
* Soc-Gen hits 6-month high on capital buffer boost
* Telecoms emerge as worst YTD performers

(Recasts, updates to close, changes quote)
By Agamoni Ghosh and Susan Mathew
Nov 6 (Reuters) - European stocks scaled a fresh four-year
peak on Wednesday driven by a surge in shares of
consumer-focused companies that helped offset declines in autos
and miners, while investors awaited new developments from
U.S.-China trade talks.
The pan-European STOXX 600 index .STOXX closed 0.2% higher
and was about 2% away from reclaiming its record high level, hit
last in April 2015.
European shares have logged strong gains this week on
growing optimism over a trade truce between the United States
and China. But minutes after the market closing bell struck, a
Reuters report cited sources to say that a Phase-1 deal could be
delayed until December. "All the good news regarding trade has also been largely
priced in, so if the rumors prove to be wrong the risk to the
potential downside are actually far bigger," said Simona
Gambarini, markets economist at Capital Economics in London.
"We no longer expect a correction in equities but do think
there aren't too many reasons to be positive given we are
already close to record levels and economic data is still poor
with earnings growth weaker than in the past few years."
Gains on the benchmark index were led by food and beverage
.SX3P as well as the retail sector .SXRP with some earnings
to digest.
Ahold Delhaize AD.AS emerged as the top gainer on the
STOXX 600 after the Dutch supermarket operator reported upbeat
third-quarter results, citing strong sales in its Food Lion and
Hannaford chains in the U.S. A 4% rise in shares of Brenntag BNRGn.DE boosted the
chemicals sub-sector .SX4P after the German distributor posted
better-than-expected third-quarter profits.
Adidas ADSGn.DE was among the few disappointments, down 5%
after the German sportswear company said its third-quarter
growth was held back by a weaker performance from Yeezy shoes
designed by Kanye West.
Among the main drags, car makers .SXAP fell 0.3% with
BMW's better-than-expected third-quarter results doing little to
cheer up the sector, while commodity-linked stocks .SXPP fell
for the first time in three sessions.
Banks .SX7P ended flat after rallying as much as 1%
earlier in the day after French lender Societe Generale
SOGN.PA raised its capital ratio despite a profit fall in the
third-quarter and on hopes that a new banking reform may soon
take shape for the euro trading bloc.
European banks which closed at their highest levels since
May are up 6% year-to-date, leaving to Telecoms .SXKP the
trophy of worst performing sector, up less than 5% this year.

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