European shares rallied to their highest in almost 4 weeks on Friday, spurred by gains in mining and technology stocks as investors took heart from signs U.S. inflationary concerns may be starting to wane.

The pan-European FTSEurofirst index of 300 leading shares closed unofficially up 1.4 percent at 1,312.8 points, its highest since June 5. Elsewhere, France's CAC 40 and Germany's DAX gained 1.8 percent.

Among mining stocks, BHP Billiton closed up 1.8 percent, while in the tech sector, Nokia ended up 3.3 percent.