Investing.com - European stocks were higher on Friday, as concerns due to the devaluation of the yuan continued to ease and as investors awaited the release of euro zone inflation and second quarter growth data due later in the trading session.
During European morning trade, the EURO STOXX 50 added 0.25%, France’s CAC 40 edged up 0.23%, while Germany’s DAX 30 rose 0.32%.
European equities had rebounded on Thursday after China's central bank said that there was no basis for further depreciation in the currency, given China's strong economic fundamentals.
Earlier Friday, preliminary data showed that German gross domestic product rose 0.4% in the second quarter, disappointing expectations for an increase of 0.5% and after a growth rate of 0.3% in the three months to March.
In Greece, lawmakers approved the conditions for a new €85 billion bailout program, after negotiating through the night.
Euro zone finance ministers were scheduled to vote on the bailout later in the day.
Financial stocks were mixed as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) rose 0.37% and 0.30%, while Germany's Deutsche Bank (XETRA:DBKGn) and Commerzbank (XETRA:CBKG) tumbled 0.92% and 1.31%.
Among peripheral lenders, Unicredit (MILAN:CRDI) eased 0.08% and Intesa Sanpaolo (MILAN:ISP) climbed 0.50% in Italy, while BBVA (MADRID:BBVA) dipped 0.01% and Banco Santander (MADRID:SAN) advanced 0.53% in Spain.
Elsewhere, Porsche Automobil Holding VZO (XETRA:PSHG_p) saw shares surge 2.01% after its board members were said to be cleared in a probe over a failed attempt to take over Volkswagen (XETRA:VOWG) AG.
In London, FTSE 100 rose 0.22%, supported by gains in the financial sector.
Shares in HSBC Holdings (LONDON:HSBA) added 0.28% and Barclays (LONDON:BARC) gained 0.43%, while the Royal Bank of Scotland (LONDON:RBS) and Lloyds Banking (LONDON:LLOY) climbed 0.56% and 0.57% respectively.
Meanwhile, mining stocks were broadly lower on the commodity-heavy index. Bhp Billiton (LONDON:BLT) slipped 0.13% and Fresnillo (LONDON:FRES) edged down 0.15%, while Randgold Resources (LONDON:RRS) dropped 0.50% and Glencore (LONDON:GLEN) plummeted 1.29%.
Adding to losses, oil and gas major BP (LONDON:BP) tumbled 1.02% amid reports it faces penalties after a U.S. judge concluded that the company manipulated markets in Texas in 2008.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.09% rise, S&P 500 futures signaled a 0.10% gain, while the Nasdaq 100 futures indicated a 0.09% increase.