European stock closed higher on Friday, led by the French Cac 40 and the German Dax, which were followed closely by London's FTSE 100 index.

Despite the positive finish on Friday, all major European indices posted second consecutive weekly losses, as a post-Brexit relief rally continued to fade.

Markets received a boost in the European afternoon after Federal Reserve boss Janet Yellen noted a strengthening U.S. labor market and a favorable outlook for the economy. Stocks rose even though she signaled a rate rise this year could be in the cards.

In London the FTSE 100 rose by 0.31% to close at 6,838.05. Mining stocks topped the large-cap leaderboard following two days of losses, aided by a partial recovery in metals prices ahead of Yellen's speech.

BHP (BHP) - Get Report , Glencore (GLCNF) and Rio Tinto (RIO) - Get Report led the sector higher, rising by 3.3% 3.4% and 3.3% respectively.

On the mid-cap FTSE 250 index oil and gas services engineer Amec Foster Wheeler (AMFW) topped the leaderboard after rising by more than 6.6%, on stronger oil prices and a bullish upgrade from analysts at Morgan Stanley.

In Germany the Dax rose by 0.55% to close at 10,587.77. Among those topping the leaderboard were carmaker Volkswagen (VLKAY) and utility firm RWE (RWEOY)  .

Volkswagen benefitted from a bullish note released by analysts at UBS, in which the bank raised its estimates for earnings in the current year and increased its price target from €175.00 to €180.00.

RWE drew strength from speculation by German media that a consortium of the nation's largest utilities are successfully holding up a settlement with authorities over the clean up of shuttered nuclear power stations, out of a desire to force the government to provide written commitments that limit their financial liability for the costs of the cleanup.

In France, Cap Gemini (CGEMY) and ArcelorMittal (MT) - Get Report topped the leaderboard after rising by 2.6% and 2.7% respectively, helping to push the Cac 40  index up by 0.80% to 4,441.87.

In Spain, the Ibex 35 closed 0.70% higher at 8,659.50. Among the top risers on the index were lenders Bankinter (BKNIY) and BBVA (BBVA) - Get Report, which have benefited from a continued recovery of the economy during recent months, even as the nation's political establishment flounders in limbo following two inconclusive elections.