European shares rose on Friday, with the mining and technology sectors providing a boost, but the main benchmarks were still set for significant weekly losses, thanks to investor concerns over the US debt ceiling and a slowing global economy. The pan-European STOXX 600 index recovered by 0.4% after closing at an eight-week low on Thursday, with miners jumping 2.6% due to a rebound in metal prices. Technology stocks extended recent gains, having a positive effect on miners, with Rio Tinto climbing 3.6% after being upgraded by Morgan Stanley from “equal weight” to “overweight”. However, debt-laden supermarket company Casino saw its shares plummet almost 9% after trading resumed following a suspension earlier in the week. The company is starting court-backed negotiations with its creditors but is mulling two tie-up bids from wealthy investors. Shares of ProSiebenSat.1 inched 0.2% higher after the German media group confirmed its full-year outlook.
>>Join our Facebook Group be part of community. <<