Europe close: Stocks run up at session's end on US-China trade news
European stocks jumped on Friday amid reports of continued progress in US-China trade talks.
In the final stretch of the session, the US Trade Representative said that progress was being made in talks with Beijing and that some sections of the trade deal were close to being finalised.
Earlier, a speech from the US Vice President damaged optimism for a Sino-US trade deal, while calls for a UK general election added to Brexit uncertainty.
By the end of trading, the Stoxx 600 was up by 0.16% at 398.01, as Germany's Dax edged higher by 0.17% to 12,894.51 and the French CAC 40 put on 0.67% to 5,722.15. London's FTSE 100 was down by 0.05% at 7,324.47.
Back in Europe, EU ambassadors were meeting to discuss a possible three month Brexit deadline delay, as UK Prime Minister Boris Johnson said he would give MPs more time to examine his exit deal if they agreed to a general election in December.
CMC Markets analyst David Madden said: "Jeremy Corbyn has claimed he will not support an election unless Mr Johnson rules out a no-deal Brexit. The Labour leader knows full well that Boris won’t rule out a no-deal possibility, so the UK might be stuck in the departure lounge of the EU for some time."
Meanwhile, data from Germany's Ifo institute showed that the nation's business morale held steady at 94.6 in October, on par with the prior month and just ahead of a consensus forecast for a reading of 94.5.
However, the current assessment index slipped to 97.8 in from 98.6 the month before, falling short of expectations for a reading of 98.0.
Analysts from Pantheon Macroeconomics said: "Overall, the key message from the IFO is still one of slowing growth, and acute recession risks. Meanwhile, the details were mixed. The manufacturing index rose a bit, but remains depressed overall, while the services and wholesale confidence indices fell modestly.
"Sentiment in construction also dipped, but the level is robust on a whole."
Among individual stocks, French luxury goods group Kering surged after double digit third quarter sales growth from its Gucci designer brand, with a 16.6% sales increase in the Asia-Pacific region alleviating fears that demonstrations in Hong Kong could hamper trading.
Moncler was also in the green after its third quarter revenue growth exceeded expectations despite the jacket maker having taken a 40% hit to sales in Hong Kong.
Spanish meat casings manufacturer Viscofan leapt after third quarter net profits jumped by 17% after sales improved across Europe, Asia and the Americas.
French video game developer Ubisoft dived after announcing delays to the release of its Watch Dogs Legion, Gods & Monsters, and Rainbow 6 Quarantine titles following the "underperformance" of Ghost Recon Breakpoint and The Division 2.
United Internet was in the red after cutting its outlook as its investee, telecoms operator 1&1 Drillisch, had its request to retroactively review prices under a 2014 deal with rival Telefonica Deutschland rejected.