In European equity markets, the FTSE Eurofirst 300 saw a 1 percent rise on
Friday to end the week up by 0.1 percent to 1,194.47.

The energy sector was a big loser on the week amid indications that high crude oil prices were starting to affect consumer prices. This raised concerns that economic growth could be harmed if prices continued to remain high.

Austrian company OMV dropped 4.8 percent on the week to €38.80, Neste Oil of Sweden lost 3.4 percent to €24.20, and oilfield services company Saipem dropped 2.1 percent to €12.87.

The telecommunications sector was mixed. Two Greek companies both saw advances on the week. OTE was up 5.4 percent to €17.84, while Cosmote Mobile added 4.5 percent to €16.76. On the other hand, Deutsche Telekom lost 1.9 percent to €15.69 around issue of its interest in bidding for UK company O2.

The biggest loser on the week on the Eurofirst was Adecco, the Swiss recruitment agency, which fell 7 percent to SFr61.