LONDON Oct 14 European shares rose on Friday to
claw back ground from losses in the previous session, with
mining and telecoms stocks outperforming.
Shares in British hedge fund Man Group jumped up by
9 percent after the company reported a rise in assets under
management, and announced a share buyback and the acquisition of
investment management company Aalto.
The pan-European STOXX 600 index rose 0.6 percent,
although the index remains down by around 8 percent since the
start of 2016.
Mining stocks outperformed after a batch of solid economic
data from China, the top global consumer of metals and the
world's second-biggest economy.
Data showed that China's producer prices unexpectedly rose
in September for the first time in nearly five years, while
consumer inflation quickened to 1.9 percent from a year earlier,
also beating market expectations.
Shares in French telecoms group SFR climbed 5.6
percent after rival Altice acquired another 5 percent
stake in SFR, with the broader STOXX Europe 600 telecoms index
advancing by 0.6 percent.
(Reporting by Sudip Kar-Gupta; Editing by Atul Prakash)