European shares rose on Friday adding to the strong gains earlier this week, as investors focussed on Russia-Ukraine peace negotiations and digested the talks between U.S. President Joe Biden and Chinese counterpart Xi Jinping.
European stocks closed at over two-week highs on Wednesday after fresh talks of compromise from Russia and Ukraine boosted gains spurred by China's promise to roll out more economic stimulus.
President Vladimir Putin said on Wednesday that Russia would achieve its goals in Ukraine and would not submit to what he called a Western attempt to achieve global dominance and dismember Russia.
The economic cost of Russia's assault on Ukraine was further exposed on Wednesday as the sanctions-hit country teetered on the brink of its first default on international debt since the Bolshevik revolution.
The European Union has banned top credit rating firms from rating Russia's sovereign debt and the country's companies as part of its latest sanctions package, the European Commission said on Tuesday.