European shares traded lower on Friday and were set for weekly losses as a continued rise in crude prices amid an escalating conflict in the Middle East fueled inflation worries and reduced expectations of near-term Federal Reserve rate cuts.
In economic releases, the U.K. economy logged no growth in January, as growth in construction was offset by contraction in industry and flat services activity, the Office for National Statistics reported.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.