October 14, 2016 / 7:20 AM / 3 years ago

European shares rise, lifted by miners and telecom stocks

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

Shares in British hedge fund Man Group 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 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)

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