European stocks climbed on Friday, underpinned by gains in cyclical stocks and investors pushing back on expectations of an imminent US interest rate hike.A lukewarm US jobs report on Thursday boosted expectations that the Federal Reserve may wait until later in the year before raising rates, while global business activity reports broadly suggested ​a resilient economy.Earlier this ​week, euro zone data indicated ⁠that inflation rose at a slower-than-expected pace in June and European Central Bank president Christine Lagarde said that risks to inflation and economic growth were now more balanced ​than a few weeks earlier.Volumes were hit as the US markets remained shut for the July 4th public holiday. DublinThe Irish market closed the week slightly higher buoyed by gains in heavyweight stocks such as Kingspan and Glanbia. But banking stocks were mixed, with AIB ending the day at 1.5 per cent higher and Bank of Ireland edging downwards to €17.31, a 0.7 per cent decline. Permanent TSB was 1.32 per cent off the pace, whileinsurer FBD ended the day 2.9 per cent down. Kerry Group rose half a per cent, bringing its total gain for the week to 3.3 per cent. Glanbia meanwhile was 2.1 per cent higher on the day, and 4.5 per cent up over the week. Insulation specialist Kingspan gained 3.1 per cent, while home builders Glenveagh and Cairn both gained on Friday. Rayanair declined 2.4 per cent on Friday, erasing gains earlier in the week. LondonBritain’s FTSE 100 ended higher on Friday and notched a weekly gain, supported by financials, while higher gold prices lifted ​precious metals miners.The blue-chip FTSE 100 index closed up 0.2 per cent ​at 10,679.03 points, while the midcap FTSE 250 climbed ⁠0.5 per cent.The financials sector gained ground, led by Close Brothers Group, up ​7.9 per cent, while Lion Finance Group and Standard Chartered advanced 2.8 per cent and 1.5 per cent ​respectively.Precious metals miners gained 1.4 per cent, tracking higher gold prices after weak US jobs data reduced expectations of a near-term Federal Reserve rate hike.Chemicals led sectoral gains, advancing ​2.5 per cent, with Johnson Matthey up 4.9 per cent after the firm received Chinese regulatory ​approval for the divestment of its Catalyst Technologies business to Honeywell. It said ‌it ⁠expects the deal to close by the end of August.EuropeThe pan-European STOXX 600 hit another high of 652.35 and closed 0.7 per cent higher on Friday, registering its sharpest weekly jump since mid-May. Germany’s DAX index also notched an all-time high ​and closed up 0.8 per cent.German industrial group Siemens jumped 2.6 per cent and was the biggest boost to the ​DAX after brokerage Kepler Cheuvreux upgraded the stock to “hold” from “reduce”.Chip firm Aixtron rose 6 per cent, while ⁠peers Soitec and BE Semiconductor added 5 per cent and 4.2 per cent respectively.Reuters reported the German draft budget for 2027 foresees borrowing of more than €203 billion, up from total borrowing ​of €196.5 billion n the key targets approved by the government in April.Meanwhile, defence stocks were 0.7 per cent higher as Russia bombarded ​Ukraine with its deadliest strike this year. Investors anticipate more defence spending and output in times of geopolitical tensions.French voucher and benefits company Pluxee ​gained 7.8 per cent after posting a smaller-than-expected drop in organic sales in the third quarter.New YorkUS markets were closed for the Independence Day holiday. – Additional reporting: Reuters