European shares rise, lifted by miners and telecom stocks

LONDON, Oct (HKSE: 3366-OL.HK - news) 14 (Reuters) - European shares rose on Friday to claw back ground from losses in the previous session, with mining and telecoms stocks outperforming.

Shares (Berlin: DI6.BE - news) in British hedge fund Man Group (LSE: EMG.L - news) jumped up by 9 percent after the company reported a rise in assets under management, and announced a share buyback and the acquisition of investment management company Aalto.

The pan-European STOXX 600 index rose 0.6 percent, although the index remains down by around 8 percent since the start of 2016.

Mining stocks outperformed after a batch of solid economic data from China, the top global consumer of metals and the world's second-biggest economy.

Data showed that China's producer prices unexpectedly rose in September for the first time in nearly five years, while consumer inflation quickened to 1.9 percent from a year earlier, also beating market expectations.

Shares in French telecoms group SFR climbed 5.6 percent after rival Altice (Other OTC: ATSVF - news) acquired another 5 percent stake in SFR, with the broader STOXX Europe 600 telecoms index advancing by 0.6 percent. (Reporting by Sudip Kar-Gupta; Editing by Atul Prakash)