• The FTSE 100 closed 0.4 percent higher at 7,047.11 points.
• The DAX index in Frankfurt climbed 0.3 percent, reaching 12,947.75 points.
• The value of the pound remained relatively unchanged in comparison to the dollar and the euro.

European stocks opened higher, following another week of hefty losses for markets, especially oil, on heightened worries of a global recession.

The benchmark FTSE 100 index in London rose 0.4 percent to 7,047.11 points, as investors ignored devastating by-election losses for Britain’s ruling Conservatives.

Read More: U.S. futures rise alongside European stocks; Dollar falls

The value of the pound remained relatively unchanged in comparison to the dollar and the euro, and this was the case despite data indicating a decrease in the volume of retail sales in the UK due to rising inflation.

The DAX index in Frankfurt climbed 0.3 percent, reaching 12,947.75 points, while the CAC 40 index in Paris gained 0.7 percent, reaching 5,922.45. Both of these indexes are located in the eurozone.

Read More: European stocks open downward after Fed issues a recession warning

Previously on European Stocks

As markets processed statements from the Federal Reserve that a recession is “certainly a possibility” and awaited statistics on the condition of the European economy, European stocks declined on Thursday morning.

In morning trade, the regional Stoxx 600 index fell 0.6%, while the FTSE 100 index fell 0.9% and Germany’s Dax index fell 0.4%.