By Carla Mozee, MarketWatch

Anglo American leads drop in miners; Infineon rises again

European stocks slipped Friday, pulling back from three-months highs, as commodity shares bore the brunt of the fallout from a slide in Chinese equities and strengthening in the U.S. dollar.

The Stoxx Europe 600 fell 0.2% to 383.67, led lower by the basic materials and oil and gas groups. But advances for telecom, industrial, consumer services and tech shares helped limit the decline on the pan-European index.

Among gainers, Banca Monte dei Paschi di Siena SpA (BMPS.MI) rose 1.9% after a check of the Italian lender met the European Central Bank's capital requirements, according to Dow Jones Newswires. Infineon Technologies (IFX.XE) climbed 3.6% after Credit Suisse raised its price target on the German chip maker to 14.25 euros. Infineon rallied nearly 13% Thursday following a profit jump. (http://www.marketwatch.com/story/infineon-profit-up-80-on-tax-boost-earnings-gain-2015-11-26)

In Frankfurt, the DAX 30 shed 0.2% to end at 11,293.76, and France's CAC 40 finished 0.3% lower at 4,930.14.

The Stoxx 600 closed the week up by 0.5%, helped by Thursday's surge of 0.9% (http://www.marketwatch.com/story/european-stocks-on-course-for-three-month-high-2015-11-26) to 384.37, its best finish since Aug. 18.

Resource shares: Mining stocks were hit Friday following a tumble in Chinese equities (http://www.marketwatch.com/story/china-shares-plunge-4-as-brokers-probed-over-violations-2015-11-27), which came after a Chinese regulator said it's investigating two major Chinese brokerage (http://www.marketwatch.com/story/chinese-regulator-targets-citic-guosen-in-securities-violations-probe-2015-11-27)s over suspected securities-rules violations. The Shanghai Composite Index was yanked down 5.5%, its worst drop since Aug. 25, according to FactSet.

Separately, Chinese data showed profit for industrial companies fell for a fifth straight month in October, down 4.6% from the year-ago period. The sharp contraction is "adding to worries about a hard economic landing," for the world's second-largest economy, wrote Mike van Dulken and Augustin Eden at Accendo Markets in a note.

Miners are sensitive to developments in China, a major importer of metals. Anglo American PLC (AAL.LN) took at 8.2% hit, Fresnillo PLC (FRES.LN) sank 4.6% and steelmaker ArcelorMittal SA (MT) gave up 3.3%

With miners key for the FTSE 100 , Britain's blue-chip index declined 0.3% to 6,375.15. (http://www.marketwatch.com/story/london-stocks-jolted-lower-by-china-market-rout-2015-11-27)

Oil prices (http://www.marketwatch.com/story/oil-prices-struggle-as-market-mulls-opec-meeting-2015-11-27) , meanwhile, were driven down more than 2%, with oversupply worries and gains for the U.S. dollar hurting the dollar-denominated commodity. Shares of oil producer Tullow Oil PLC (TLW.LN) stumbled 3% and Norway's Statoil ASA (STL.OS) lost 1.8%.

ECB: Against the dollar, the euro was off about 0.5% for the week. The euro this week fell below $1.06 for the first time since April on expectations for further stimulus measures from the European Central Bank.

The ECB's meeting on Thursday stands to be the marquee event for European markets next week. Many analysts will look for ECB President Mario Draghi to possibly unveil further actions aimed at helping the eurozone economy fight low inflation and sluggish growth.

Figures released Friday showed French consumer spending dropped (http://www.marketwatch.com/story/french-consumer-spending-drops-in-october-2015-11-27) in October for the first time since March. The report "only serves to underpin the market's expectation that the ECB will pull out all the stops in respect of monetary stimulus in the near term," said Brenda Kelly, head analyst at London Capital Group, in a note.

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(END) Dow Jones Newswires

November 27, 2015 12:57 ET (17:57 GMT)