Shreyashi Sanyal

European shares rose for the first time in three sessions on Monday, bouncing from a Wall Street-led rout in technology stocks in the previous week as investors focused on economic green shoots and COVID-19 vaccine developments.

European shares bounced back on Wednesday, on the eve of the European Central Bank's policy meeting, as AstraZeneca reversed declines after a report that it may resume its COVID-19 vaccine trial next week.

European shares reversed earlier losses to close higher on Friday, led by ASML and L'Oreal, although a dip in Volkswagen weighed on Germany's main index.

European stocks were subdued on Friday, but marked their longest weekly winning streak since November 2019 as hopes of a rapid recovery in economic growth offset doubts over the euro zone's COVID-19 vaccination programme.

European shares retreated after three straight sessions of gains on Wednesday, as investors paused to take stock of the outcome of Russia-Ukraine peace talks.

Kazakhstan has approved plans to increase its coal-fired power generation through projects estimated at around 7.5 trillion tenge ($15.5bn) through to 2030, President Kassym-Jomart Tokayev said.