European shares rose slightly on Friday as oil inventories rose; In light of persistent concerns regarding inflation and the imminent hike in interest rates by the European Central Bank.
The pan-European Stoxx 600 index rose 0.4 percent following falling regarding 2 percent in its previous session, and oil inventories raised the gains to a 1.4 percent increase to the index following crude oil prices rose as cold weather swept large swathes of the United States, threatening to further disrupt oil supplies.
The euro headed for its best week since March 2020 following the European Central Bank acknowledged rising inflation risks and left the door open for interest rate hikes this year.
