European stock markets moved cautiously higher on Friday, taking inspiration from an upbeat trading session in Asia on data showing consumer prices in China rose at a slower-than-expected rate in July.
The Stoxx Europe 600 index XX:SXXP -0.02% added 0.1% to 304.46, building on a 0.5% gain from Thursday.
Shares of Royal KPN NV NL:KPN +16.60% climbed 17% to 2.34 euros after Mexican telecom firm America Movil SAB de CV MX:AMXL +1.95% said it plans to make an offer for the Dutch firm at €2.40 a share ($3.21).
Shares of Novozymes AS DK:NZYMB +1.78% lifted after the industrial enzymes producer reported a 13% rise in second-quarter profit.
More broadly, markets tracked gains in Asia, where Hong Kong stocks climbed after data showed July consumer prices in China rose 2.7%. The number matched the rate in June but was slightly weaker than expectations. Additionally, Chinese industrial production grew at the fastest pace since February, rising 9.7% from a year earlier.
Mining firms, which tend to rise on encouraging data from China, posted some of the biggest gains in Friday’s trade.
Shares of BHP Billiton PLC UK:BLT +1.08% BHP +4.62% AU:BHP +1.78% added 2%, Rio Tinto PLC UK:RIO +1.53% RIO +3.33% AU:RIO +1.29% also picked up 2% and Anglo American PLC UK:AAL +1.48% gained 2.5%.
The gains for the miners helped lift the FTSE 100 index UK:UKX +0.09% 0.3% to 6,548.58.
Among other country-specific indexes, Germany’s DAX 30 index DX:DAX -0.25% rose 0.1% to 8,322.85, while France’s CAC 40 index FR:PX1 -0.29% slipped 0.2% to 4,056.25.
Shares of Total SA FR:FP -0.76% TOT +0.47% , off 0.7%, weighed on the French index.
Source: Marketwatch
