Volkswagen Boosts European Shares Amid Inflation Worries

European shares closed lower for the week on Friday, despite Volkswagen's impressive 5.9% gain to a two-month high.

The benchmark finished at 649.88 points, down 0.8% from last week, as concerns over sticky inflation and rising government debt weighed on investors.

A resilient US non-farm payrolls report added to the pressure, reinforcing expectations that the Federal Reserve could raise interest rates later this month.

Investors are now eyeing next week's US consumer inflation print for a clearer signal on the Fed's trajectory.