BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks rose on Friday, with rising oil prices, upbeat regional data and hopes of progress toward ending a U.S.-China trade conflict helping underpin investor sentiment.
The euro area private sector expanded at the fastest pace in seven months in June, as growth in the service sector offset the fall in manufacturing, a report showed today.
A trade agreement between China and the United States is 'within reach' as long as Donald Trump and Xi Jinping have the 'courage' to compromise, a senior U.S. business representative said.
The two presidents will sit down for face-to-face talks at the G20 summit in Osaka, Japan, next week.
Geopolitical tensions also remained in focus after the New York Times reported that U.S. President Donald Trump had approved targeted military strikes against Iran in retaliation for shooting down a U.S. drone, and then backed out.
The pan-European STOXX 600 index was virtually unchanged at 386.20 but remained on track for a gain of nearly 5 percent so far this month.
The German DAX was moving up 0.3 percent and France's CAC 40 index was gaining half a percent while the U.K.'s FTSE 100 was marginally higher, giving up early gains.
Telecom Italia advanced 1.7 percent after it opened formal talks with the owners of smaller rival Open Fiber about 'possible forms of integration' of the two networks.
Total SA rose 1.5 percent, Royal Dutch Shell gained 1.2 percent and BP Plc added 1.8 percent after U.S. crude futures jumped as much as 5.4 percent on Thursday on fears of a military confrontation between Iran and America.
Miners Anglo American, Glencore and Antofagasta rose around 1 percent as copper extended gains on Fed rate cuts hopes.
Semiconductor company IQE plummeted 26.5 percent. The company said it will see a larger impact than the previously guided risk related specifically to the U.S. ban on Huawei.
Siltronic declined 1 percent, Infineon Technologies shed 0.6 percent and STMicroelectronics gave up 1.4 percent.
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