BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks rose on Friday, with mining and energy stocks pacing the gainers after the United States and China hailed major progress in recent talks.
The upside, however, remained capped as investors digested news of a potentially longer Brexit extension.
The pound strengthened against its major counterparts after media reports suggested that that European Council President Donald Tusk is considering to provide a one-year 'flexible' extension for the U.K. to leave the European Union.
Tusk's proposal would enable the U.K. to quit the bloc earlier, if Parliament ratifies the withdrawal agreement before the 12-month period. The plan has to be agreed by EU leaders at a summit next week.
The benchmark FTSE 100 was up 13 points or 0.18 percent at 7,415 in opening deals after declining 0.2 percent the previous day.
Miners Anglo American, Antofagasta and Glencore all rose about 1 percent while oil giant BP Plc gained 0.7 percent and Tullow Oil added 1.1 percent.
Shares of Scientific Digital Imaging soared more than 9 percent after the company announced the acquisition of MPB Industries for 1.59 million pounds.
Tricorn Group jumped 13 percent. The tube manipulation specialist Friday said it expects higher adjusted profit before tax and revenues for the financial year ended March 31.
AVEVA Group advanced 1.3 percent after it agreed to acquire the software assets of MaxGrip.
Ladbrokes owner GVC Holdings rose over 1 percent after releasing its latest financial update.
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