May 13, 2022 04:09AM ET
European equity markets traded higher on Friday and regained ground at the end of a challenging week as investors continued to assess ongoing inflation, aggressive monetary tightening and the associated impact on global economic growth.
At 4:20 am EDT, Germany's DAX was trading 1.2% higher, France's CAC 40 was up 1.3% and the UK's FTSE 100 was up 1.3%.
European stocks rose on Friday as investors sought bargains amid concerns that rising inflation and tighter monetary policy will severely curb regional growth, especially given the fallout from the conflict in Ukraine.
However, major European indices are still on track for a fifth straight negative week, the longest streak since February.
Investors continue to monitor the geopolitical impact of the Russian incursion into Ukraine as Russian forces continued artillery and air strikes on the Azov Valley facility in Mariupol.
Foreign ministers of the Group of Seven countries will meet with NATO officials over the weekend to discuss possible applications from Finland and Sweden to join the military alliance.
Moscow on Thursday threatened Finland with retaliatory measures if the country goes ahead with its plans to join NATO.
Deutsche Telekom shares rose 0.3% after the telecom giant reported strong quarterly results and raised its outlook for the full year, helped mainly by its U.S. unit T-Mobile and growth in its European business.
Norwegian Air Shuttle shares fell 1% after the low-cost airline posted a first-quarter loss, adding that rising fuel costs offset the positive impact of increased bookings for the summer season.