LONDON (AP) — European stocks rebounded on Friday as global markets looked to regain some ground after a rough week, with investors weighing the outlook for inflation and interest rates.
European leaders also face a race to secure alternative gas suppliers after Moscow announced sanctions on European subsidiaries of its majority state-owned corporation Gazprom. The move came after Ukraine’s state-owned grid operator suspended Russian flows into Europe through a key entry point.
On the data front, French inflation was confirmed at 5.4% y/y in April.
Euro zone industrial production shrank 1.8% in March from the previous month, a steeper drop than the 1% expected by a Dow Jones survey, as the war in Ukraine began to take its toll.
In terms of individual share price movement, Sweden’s Storskogen Group and Finnish state-owned energy company Fortum rose more than 11%.
Shares in Belgian pharmaceutical company UCB fell more than 13% after the US Food and Drug Administration said it cannot approve a key psoriasis drug.
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