European stocks on way to best week since Nov 2020

European shares inched higher on Friday, attempting to build on strong gains from earlier this week, as investors focussed on Russia-Ukraine peace talks that has shown no tangible progress so far.

The pan-European STOXX 600 index rose 0.2% by 0814 GMT and was headed for its best weekly performance since November 2020.

Retail stocks rose the most, up 1.0%, while oil stocks gained 0.5% as crude prices traded at over $107 a barrel.

U.S. President Joe Biden is expected to deliver a warning that Beijing will pay a price if it supports Russia's war effort when he speaks to China's President Xi Jinping in a call scheduled for 1300 GMT.

Britain's Vodafone rose 1.3% after Reuters reported that global infrastructure funds have approached the telecom giant to invest in its $16 billion mast company Vantage Towers .

German real estate giant Vonovia rose 1.1% after it said it was on course for "significant growth" after a record year and the acquisition of smaller rival Deutsche Wohnen in 2021.