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.
Mainland China's benchmark Shanghai Composite index closed at a four-year high following a generally positive trading session in Asia. The National Bureau of Statistics said that China's economy was $305 billion larger than previous estimates in 2013, adding output roughly the size of Malaysia's economy, though the agency said the revision didn't change the 2014 growth outlook.
In Tokyo, the Nikkei 225 closed up 2.39% at 17,621.40.