(ADVISORY- Reuters plans to replace intra-day European and UK stock market reports with a Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets for site in development. See the bottom of the report for more details) Adds details, updates prices)
* FTSEurofirst 300, STOXX 600 both by up 0.6 pct
* Accor up on report Jin Jiang plans to hike stake
* Commodities stocks track higher metals, oil prices
* Banco Popolare shares touch fresh record lows
By Atul Prakash
LONDON, June 3 (Reuters) - European shares rose on Friday, with French hotel group Accor climbing on a report that China's Jin Jiang was planning to hike its stake in the group, while a recovery in commodities prices boosted mining and energy stocks.
Accor shares rose 5.2 percent, the top gainer in the pan-European FTSEurofirst 300 index, after French newspaper Le Figaro reported that Jin Jiang was considering increasing its Accor holding to 29 percent. Accor declined to comment.
The FTSEurofirst 300 index rose 0.6 percent by 1135 GMT, but the index was down nearly 1 percent for the week after gaining for the previous three weeks running. The STOXX Europe 600 index was also up by 0.6 percent.
Investors avoided placing big bets ahead of U.S. jobs data that could help them assess the likely timing of the Federal Reserve's next move to hike interest rates. Non-farm payrolls probably rose by 164,000 jobs in May after rising by 160,000 in April, according to a Reuters survey.
"Markets are mainly in a wait-and-see mode ahead of the U.S. jobs data, with the importance of the report rising more than usual this time as the Fed has indicated that it is considering a rate hike sooner rather than later," Philippe Gijsels, head of research at BNP Paribas Fortis, said.
"A jobs figure outside the consensus has the potential to move stock markets quite violently."
Commodities stocks were in demand, with the European basic resources index rising 1.4 percent, the top sectoral gainer, as prices of copper, aluminium and zinc rose.
The European oil and gas index advanced 1.3 percent as Brent oil prices rose above $50 a barrel. Oil's rise came after Saudi Arabia pledged at an OPEC meeting not to flood the market with more fuel, although those at the meeting failed to agree on output targets.
On the downside, Airbus fell 2 percent, the top decliner in the FTSEurofirst 300 index, after Qatar Airways cancelled its first Airbus A320neo jet due to delays in deliveries.
Italy's fourth-largest bank Banco Popolare fell as much as 5.8 percent to touch a fresh record low after Italy's fourth-largest bank price its 1 billion euros rights issue.
Today's European research round-up
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Mike Dolan, Markets Editor EMEA. (Additional reporting by Danilo Masoni in Milan; Editing by Hugh Lawson)