LONDON ( The Deal) -- European stocks were mixed on Friday, with major indices paring or ceding initial gains, though shares in put-upon sectors including oil and commodities rose.
In London, the FTSE 100 was up 0.24% at 6,481.28, with mining companies like Rio Tinto (RIO) and BHP Billiton (BHP) and oil producers including Royal Dutch Shell (RDS.A) enjoying a modest recovery.
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Food retailer Tesco (TSCDY) led the gainers. The stock has lost more than 40% of its value in the past year following a string of profit warnings.
In Frankfurt, the DAX was down 0.22% at 9,789.35 and in Paris the CAC 40 slipped 0.43% to 4,231.02. Russian indices, which have been roiled by the country's currency crisis, were down sharply, while indices in Greece, where investors have been spooked by a potential change of government, edged lower.
In Paris, IT services provider Atos (AEXAF) was up well over 5% after agreeing to pay $1.05 billion for the IT outsourcing operation of Xerox (XRX) . But Air France-KLM plunged almost 8% after the airline cut its 2014 Ebitda target by 200 million.
In Frankfurt, chemicals maker BASF (BASFY) lost more than 1% after scrapping an asset swap deal with Russia's Gazprom (GZPFY) that would have allowed it to exit a low-margin gas trading business and gain stakes in Siberian oil fields. Charges associated with the cancellation of the November deal mean Ebit will rise less than it expected.