MADRID (MarketWatch) -- European stock markets moved higher on Friday, with gains inspired by a report in the Financial Times that European Union authorities are working with Spain on a new rescue plan. The Stoxx Europe 600 index XX:SXXP +1.46% rose 0.5% to 275.95, led by banks and oil stocks. The German DAX 30 index DX:DAX +1.57% rose 0.4% to 7,416.71. Shares of adidas AG DE:ADS +2.48% fell over 2% after the sportswear maker reported results. The French CAC 40 index FR:PX1 +2.33% rose 0.7% to 3,532.55 and the FTSE 100 index UK:UKX +1.55% rose 0.5% to 5,882.70.