Eurozone Inflation Rises, Rate Cut Still Expected
European stocks closed higher on Friday, with the Stoxx 600 index up 0.28%, as investors assessed euro zone inflation data, which rose to 2.6% in May. The ECB is expected to cut interest rates at its June 6 meeting. JD Sports shares fell 12.4% after reporting a decline in first-quarter U.K. sales. Italy's economy grew by 0.3% in the first quarter.