Europe close: Stocks end the week slightly higher

Following talks between US Secretary of State Mike Pompeo and his opposite number from China, Yang Jiechi, Beijing committed to following through on the phase one trade deal between the two countries.

One top State Department official reportedly said that would be a "good acid test" as to China's intentions.

Meanwhile, the head of the European Central Bank together with that of the European Commission and the leaders of Germany and France all called on Friday for a prompt agreement on the proposed €750.0bn EU reconstruction fund.

Against that backdrop, by the end of trading, the Stoxx 600 was ahead by 0.56% to 365.46, alongside a 0.4% advance for the German Dax to 12,330.76 while the FTSE Mibtel had put on 0.68% to 19,618.93.

Crude oil futures also gained, with front dated Brent 1.12% higher at $41.99 a barrel on ICE as traders called the price higher.

From a sector standpoint, healthcare issues pacing gains on the pan-European Stoxx 600, with a sub-index for the group rising 1.43%.

"The recent volatility has been an opportunity to see exactly how markets would respond if fears grew of a second wave, and while we have seen volatility it is clear that it may take a major lockdown to really impact risk-appetite," said IG analyst Josh Mahony.

German payments firm Wirecard was again the top faller, adding to the previous session's collapse with a 27% slump over fears of a looming cash crunch.

In Economic news, Russia's central bank delivered a greater-than-expected 100 basis point cut to its main interest rate, leaving the one-week repurchase rate at 4.5% (consensus: 4.75%).

To the west, Eurostat reported that the euro area's current account surplus dropped from €27.0bn in the last quarter of 2019 to only €14bn in the first three months of 2020.

Meanwhile, in Germany, producer prices were reported to be 2.2% lower year-on-year in May (consensus: -2.0%).