European stocks advance as commodity shares rally

Oil price gains and the resulting rise in commodity shares pushed the major European indices higher in early trading on Friday.

At the time of writing, pan-European Euro Stoxx 50 index was up 1.10%. Germany’s DAX and France’s CAC were up 0.80% each. UK’s mining heavy FTSE was up 0.82% as well. The broader Stoxx 600 index was up 0.52%.

Mining heavyweights in the UK like Rio Tinto, Glencore, Weir Group, Anglo American were up at least 2% each. Germany’s RWE AGT ST 2.66%. Meanwhile, losing side included names like Swisscom.

On the macroeconomic front, German exports bounced back, rising more than expected in February and at their fastest pace since September.