UPDATE 2-European stocks end higher as miners scale 10-year peaks

* Earnings kick into higher gear this week
* Miners rise as metal prices rally
* Travel stocks at record closing high
* IMI tops STOXX 600

(Updates to market close)
By Sruthi Shankar and Ambar Warrick
April 26 (Reuters) - European stocks ended higher on Monday
as strong metals prices boosted miners, while a rise in bond
yields supported shares of major banks amid optimism the worst
of the COVID-19 pandemic had passed.
The pan-European STOXX 600 index .STOXX ended 0.3% higher
after its first weekly loss in eight last week. Basic resources
stocks .SXPP were among the best performers for the day,
rising 1.9% to a 10-year closing high.
The sector was supported by Shanghai copper prices hitting
10-year highs, with prices of other metals also rising as
vaccination programmes across major industrial hubs pointed to a
recovery in demand. MET/L
Bank stocks .SX7P were the top performers, rising 2% as
major lenders were supported by rising euro zone bond yields.
GVD/EUR
Travel and leisure stocks .SXTP rose 1.8% to a record
closing high after a top European Union official said Americans
who have been vaccinated against COVID-19 should be able to
travel to Europe by summer. "With Italy lifting many restrictions on Monday, France
planning to ease measures next month, the jab rate trending up,
and the PMIs pointing to persistently robust activity, we remain
confident about a consumption-driven rebound starting in Q2,"
analysts at Morgan Stanley said.
However, German stocks .GDAXI lagged their peers, rising
only 0.1%, after the Ifo Institute's survey showed German
business morale improved by less than expected in April amid a
third wave of COVID-19 infections. While earnings from mega-cap U.S. technology companies such
as Apple AAPL.O could set the tone on Wall Street this week,
Europe will see a barrage of earnings reports from UK banks, oil
majors and healthcare companies.
Of the 15% of STOXX 600 companies that have reported so far,
66% topped earnings estimates, according to Refinitiv IBES data.
In a typical quarter, 51% beat earnings estimates.
British engineering firm IMI Plc IMI.L topped the STOXX
600, rising more than 11% after it hiked its 2021 profit
guidance. Austrian sensor maker AMS AMS.S fell 0.7% after Credit
Suisse double downgraded its stock to "underperform", citing
concerns around the company potentially losing product supply
deals at Apple. Volkswagen AG VOWG.DE slipped 2.1% after the Financial
Times reported the company had warned managers to prepare for a
bigger production hit in the second quarter due to a global chip
shortage.