[Economics] European shares set for best weekly performance since November 2020

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https://www.msn.com/ar-ae/money/news/أسهم-أوروبا-تتجه-صوب-تحقيق-أفضل-أداء-أسبوعي-منذ-نوفمبر-2020/ar-AAVdW0J?li=BB1ebCer

 

 

 

Reuters) - European shares rose on Friday, extending strong gains this week, with investors focused on Russia-Ukraine peace talks that appeared to have made no progress so far.

 

The pan-European Stoxx 600 index rose 0.2 percent by 0814 GMT and was on track for its best weekly performance since November 2020.

 

Retail stocks gained the biggest, rising 1%, while oil stocks gained 0.5% as oil prices topped $107 a barrel.

 

US President Joe Biden is expected to warn Beijing that it will pay a price if it backs Russia's war efforts, when he speaks with his Chinese counterpart Xi Jinping in a phone call at 1300 GMT.

 

Britain's Vodafone rose 1.3 percent after Reuters reported that global infrastructure funds had approached the telecom giant to invest $16 billion in its Vantage Towers unit.

 

German property firm Fonovia rose 1.1 percent after it said it was on track to achieve "strong growth" after a record year and the acquisition of smaller rival Deutsche Wonen.

 

(Prepared by Mustafa Saleh for the Arabic Bulletin)

 

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