European stocks surge after China factory output rises


European shares climbed on Friday as Chinese factory output increased, but U.S.-China tensions remain.

The pan-European STOXX 600 surged 1.4%, with travel stocks gaining 2.7%.

Miners .SXPP and chip makers also rose after China’s industrial output increased 3.9% in April.

Global stock markets fell this month after continuous gains in April due to fears of a possible second wave of coronavirus infections.

Swiss drugmaker Roche jumped 1.4% after announcing its plan to start selling new digital diagnostics products that may lead to faster screening of COVID-19 patients.

BT Group Plc rose 8.2% after it was reported to be in talks to sell a multi-billion pound stake in its network subsidiary to infrastructure investors.

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