By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- Upbeat growth data from China and a
strong prior-day session on Wall Street helped lift European stock
markets on Friday, with the benchmark index on track for a seventh
straight day in positive territory.
The Stoxx Europe 600 index climbed 0.4% to 317.21, flirting with
the highest level in more than five years.
Shares of L'Oréal SA gained 2.4% after Shiseido Co. said it has
entered exclusive talks to sell two of its Paris-based cosmetics
businesses to the bigger French rival.
On a more downbeat note, shares of Anglo American PLC gave up
2.5% after the miner released a mixed production update for the
third quarter with copper, diamond and nickel output up, but iron
ore down.
OMV AG dropped 2.3% after the oil refiner said political unrest
in North Africa took its toll on hydrocarbon-production levels in
the third quarter.
For the broader European markets, investors were inspired by
news from China, where data showed economic growth picked up 7.8%
in the third quarter. The reading was higher than some analyst
estimates, but in line with average expectations from a Reuters
survey of economists.
However, more-recent statistics for September suggest a mild
slowdown is underway, with growth for industrial production, retail
sales and construction activity all slipping lower.
Investors also mirrored prior-day gains in the U.S., where the
S&P 500 index (SPX) managed a record finish as Wall Street
turned from the latest fiscal drama on Capitol Hill to corporate
earnings.
U.S. stock futures pointed to a higher open on Friday.
In Europe, Germany's DAX 30 index added 0.3% to 8,834.60.
France's CAC 40 index picked up 0.5% to 4,258.74, while the U.K.'s
FTSE 100 index rose 0.4% to 6,601.86.
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