Commodity gains lift European stocks, led by oils

* FTSEurofirst 300 up 0.5 percent

* Miners rally along with commodities

* Index on track for 9th monthly loss in last 10

By Jeremy Gaunt

LONDON, Aug 20 (Reuters) - European shares closed up on Wednesday, lifted by commodity stocks, but recovering only a fraction of their previous session's losses.

Analysts said sentiment may have been boosted by Wall Street's rebound and a strong performance earlier in Asia.

The FTSEurofirst 300 .FTEU3 index of top European shares ended up 0.51 percent at 1,165.31 points.

The index had its worst loss in more than a month on Tuesday, falling 2.5 percent.

"After losing 2-1/2 percent you may have a recovery of a half a point," said Franz Wenzel, senior strategist at AXA Investment Managers in Paris.

Mining stocks and heavyweight oils were the biggest advancers, lifted by earlier strength in the oil market when oil edged up above $115 a barrel. Crude CLc1 was later down sharply, closer to $113, after data showed a large U.S. supply build. The DJ Stoxx European basic resources index .SXPP rallied 4.1 percent. Rio Tinto (RIO.L) was up 7.4 percent and BHP Billiton (BLT.L) 6.7 percent.

Oil explorer Tullow Oil (TLW.L) jumped 6.8 percent after UBS raised its recommendation on the stock to "buy" from "neutral".

At the other end of the scale, fixed line telecoms and food and drug retailers were the biggest losers.

Supermarket chain Carrefour (CARR.PA) closed down 3.1 percent.

Britain's FTSE 100 .FTSE outperformed because of its miner and energy element, gaining 0.97 percent. Germany's DAX .GDAXI rose 0.6 percent and France's CAC .FCHI was up 0.8 percent.

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