European shares rise at the end of a volatile week

European shares rose in early trading on Friday to settle at the end of a volatile week dominated by concerns about sharp inflation and tightening monetary policy.

The pan-European STOXX 600 index rose 0.7% by 0710 GMT, with banking, oil, gas and technology shares leading the morning gains.

Trading in global markets, especially US stocks, has fluctuated significantly this week as investors await the tightening of financial conditions as the Federal Reserve prepares to raise interest rates several times to contain high inflation.

Despite Friday’s gains so far, the Stoxx 600 is expected to decline for the fifth consecutive week.

Deutsche Telekom was down 0.4 percent despite reporting higher-than-market quarterly earnings and revenue.