European stocks gain as China data lifts miners, chipmakers

European shares rose on Friday, with investors taking comfort in China's first rise in factory output this year after it eased a coronavirus-induced lockdown, but lingering Sino-U.S. tensions kept stocks on course for weekly declines.

The pan-European STOXX 600 rose 1.4 per cent by 0715 GMT, with travel stocks leading sectoral gains after a 2.7 per cent jump.

Miners and chipmakers, exposed to the health of China's economy, also rose after data showed China's industrial production climbed 3.9 per cent in April, faster than the 1.5 per cent increase forecast by analysts.


Global stock markets have slid this month after a solid recovery in April on fears of a possible resurgence in COVID-19 cases as economies ease restrictions.

The STOXX 600 is set for its biggest weekly drop since the height of mid-March selling.

Supporting market gains on Friday, Swiss drugmaker Roche gained 1.4 per cent after saying it would start selling a new digital diagnostics product that may simplify and accelerate screening of COVID-19 patients.

Britain's biggest telecoms group BT Group Plc jumped 8.2 per cent after a report that it was in talks to sell a multi-billion pound stake in its wholly owned network subsidiary, Openreach, to infrastructure investors.