European markets higher as mining stocks jump 2%; UK shows signs of recession rebound

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European markets were higher on Friday morning as investors parse through U.K. economic data and reflect on a somewhat murky U.S. inflation outlook.

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The producer price index, which tracks prices on a wholesale level, came in lower than expected in March, according to aThursday from the Labor Department's Bureau of Labor Statistics. The PPI reading rose 0.2% for the month, less than the 0.3% estimate from the Dow Jones consensus and not as much as the 0.6% increase in February.

It provided some potential relief for investors hoping for the start of Fed policy easing, although the data came just one day after aIn Europe, Britain's economic output increased by 0.1% in monthly terms in February, in line with expectations, according to figures published Friday by the Office for National Statistics.The pan-European Stoxx 600 index rose 0.9% during early morning deals, with all sectors and major bourses in positive territory.

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