LONDON (The Deal) -- European stocks rose on Friday amid hopes that G20 policy makers meeting in Shanghai would take action to spur growth.
Stocks stayed up after European Commission economic, consumer and business sentiment indicators fell more than expected in February. That in turn increased the likelihood of new European Central Bank stimuli at its March meeting.
In London, the FTSE 100 was up 1.12% at 6,080.31. In Frankfurt, the Dax was up 2.19% to 9536.27. In Paris, the CAC 40 rose 2.11% to 4,338.03.
Brent crude oil was up 1.87% at $35.95 a barrel and S&P 500 mini futures were up 0.81% at $1,966.25
The pound edged up 0.17% against the dollar and recently bought $1.3986 after a week of heavy losses related to the U.K.'s potential exit from the European Union following a June referendum.
Royal Bank of Scotland(RBS) - Get Report was the worst performer on the FTSE 100 and was down more than 8% by late morning after the bank reported its eighth consecutive annual loss. The institution, which is still more than 80% owned by the U.K. government after a credit crisis bailout, made a net loss of £2 billion ($2.8 billion) after restructuring expenses and costs associated with litigation and fines. It warned of a potential "material adverse effect" on the business from the maelstrom of legal, regulatory and governmental actions and investigations it remains subject to.
In Milan, oil producer Eni(E) - Get Report rose 5.5%, despite slumping to a €8.8 billion ($9.7 billion) loss in 2015, which was mostly accrued in the first quarter. Fourth-quarter hydrocarbon output exceeded expectations.
Travel reservations system company Amadeus IT Holding (AMADF) rose as much as 8% in Madrid, and by late morning was up 4% after posting double-digit growth in revenue and earnings in 2015 and expressing confidence for the full year despite concerns that global economic turmoil would hit its business as it curbed tourism.
Also in Madrid, Telefónica(TEF) - Get Report was down more than 2% after fourth-quarter earnings before interest, taxes, depreciation and amortization fell short of forecasts and the company surprised investors with one-off costs.
German chemicals maker BASF (BASFY) rose in Frankfurt as it increased the 2015 dividend despite a 23% decline in net profit. It predicts another 10% decline in 2016 linked to falling oil prices.
French state-controlled nuclear engineering company Areva (ARVCF) fell 3% in Paris after write-downs on a problematic Finnish atomic energy project pushed it to a loss of more than €2 billion. The company has agreed in principle to sell a majority stake in its nuclear reactor unit to Electricite de France to help plug a funding shortfall.
Asian stocks had a generally positive end to the week.
In Hong Kong, the Hang Seng leaped 2.52% to close at 19,364.15. In mainland China, most indices made measured gains, with the CSI 300 composite index closing up 1% at 2,948.03
In Tokyo, the Nikkei 225 closed up 0.3% at 16,188.41, and the Topix gained 0.29% to close at 1,311.27.
In Tokyo, Sharp (SHCAY) closed down 11.4% after declining more than 14% on Thursday after Taiwanese partner Hon Hai Precision Industry (FXCOF) , known as Foxconn, delayed signing a rescue takeover for the Japanese electronics company that sources told media outlets was worth about ¥700 billion ($6.2 billion). Hon Hai ended 0.6% lower in Taiwan.