*FTSEurofirst 300 up 1.8 pct, Euro STOXX 50 up 1.9 pct. LONDON, Dec 19- European shares posted their biggest one-day gain in three months on Thursday after the U.S. "As the Fed announced the taper, it also pushed out expectations for when it is going to lift the policy rate," said Daniel McCormack, strategist at Macquarie.
*FTSEurofirst 300 and Euro STOXX 50 up more than 1.5 percent. LONDON, Dec 19- European shares rallied on Thursday after the Federal Reserve unveiled plans to phase out its stimulus plan more gently than many had expected in the face of a stronger economy, although weak U.S. jobs data took the shine off the rally in late trade.
*Senate due to vote on ban over tax fraud conviction. ROME, Nov 27- The Italian Senate opened its debate on expelling Silvio Berlusconi on Wednesday, ahead of an evening vote that is expected to see the veteran centre-right leader stripped of his seat in parliament over a tax fraud conviction.
European shares closed slightly lower on Monday with fears of a government collapse in Italy dragging down the FTSE MIB, and with U.K. markets closed for a holiday.
Silvio Berlusconi's conviction for tax fraud has fueled speculation that his eldest daughter Marina could take his place as leader of the center-right in Italy.
A top executive for the media company at the center of Silvio Berlusconi's tax fraud conviction said the billionaire politician did not play any role in running the company he founded.
The final verdict in Silvio Berlusconi's tax fraud trial, expected on Tuesday, could see the billionaire politician and media mogul banned from holding public office for five years.
A Milan appeals court upheld a four-year sentence for tax fraud against former prime minister and center-right leader Silvio Berlusconi on Wednesday.
An alliance between Beppe Grillo's anti-establishment 5-Star Movement and Italy's center-left could pave the way for tough conflict of interest rules, forcing Silvio Berlusconi to choose between politics or his vast media empire.
European shares slipped on Friday as disappointing economic data in the UK and U.S. dampened sentiment.
President Francois Hollande travels to Algeria on Wednesday to try to heal wounds left by a bloody war half a century ago and to seek greater access to the former colony's oil wealth.
Global media reports that the former Italian prime minister Silvio Berlusconi announced his engagement have been dismissed by native Italians who say Berlusconi has been mis-translated.
European shares closed off their best levels Monday after a report showed that U.S. manufacturing unexpectedly contracted in November.