European stocks are rising from their lowest levels in 8 weeks

European stocks rose on Friday, supported by the mining and technology sectors, although the main indices were on their way to incur big weekly losses, as investors feared the US debt ceiling crisis and the global economic slowdown.

The pan-European STOXX 600 index was up 0.4 percent by 0707 GMT, after falling to an eight-week low at the close on Thursday.

Mining stocks rose 2.6 percent, following the path of higher metal prices, with global sentiment improving following progress in US debt ceiling negotiations, and technology stocks continued their recent series of gains.

Among mining companies, Rio Tinto rose 3.6 percent after Morgan Stanley upgraded the stock’s rating.

French supermarket operator Casino, which is heavily indebted, fell 9 percent as it resumed trading after being suspended earlier this week.

Prosepien Sat 1 rose 0.2 percent after the German media group confirmed its full-year forecast.