If you want to stay with PHP, I'm afraid a refreshing HTML Meta is the solution :
<meta http-equiv="refresh" content="10; url=http://example.com/" />
Refresh the page every X seconds, so that the file gets reloaded. Another way could be the use of frames, however I cannot seriously recommand it to you.
However, you can load a content without reloading the whole page, using Ajax. It allows you to perform a HTTP request to the server (using a Javascript code) and place its result on the current page, using Javascript as well. You could create a PHP script "my_string_parsed.php", which reads the file, and then parses/prints its content. Then, you could call this script through an Ajax request to http://yoursite.com/my_string_parsed.php, and place its result in a specified HTML tag on your page.
W3Schools.com provides an Ajax tutorial here : http://www.w3schools.com/ajax/
A warning concerning Ajax though : an Ajax content loading must never replace the typical HTTP behavior your browser and the server have. If the string in your file is the only content on your page, then the best solution would be the refreshing meta. Ajax should only be used to refresh parts of a page. Never the whole thing.