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European stocks eked out gains on Friday amid a decline in oil prices.
The pan-European Stoxx 600 index ended up 0.2 percent provisionally. On the week, however, the STOXX 600 jumped 3.4 percent.
Sectors closed mixed on Friday, with energy, autos and miners leading the declines.
However, in peripheral bourses, Italy's FTSE MIB was off 0.2 percent and the Athens' stock exchange fell 1.3 percent.
Oil prices were a key market mover on Friday. Despite breaking $50 a barrel on Thursday, prices fell into the red on Friday, as the U.S. dollar strengthened and analysts predicted range-bound markets for the coming months.
One of the worst performers was Banco Popular, which ended down over 8 percent after announcing a rights issue on Thursday.
Investors kept a close eye on the first day of trading of the Philips Lighting spin-off on Friday. Philips set pricing in the initial public offering (IPO) of its lighting arm at 20 euros per share and the Amsterdam-listed shares of the company rose to trade at 21.6 euros per share. Philips rose following the IPO, closing up 1.2 percent.
In the U.S., a second reading of U.S. first-quarter GDP data came in at 0.8 percent, slightly below expectations. U.S. markets traded higher as investors digested the new data and awaited a speech by U.S. Federal Reserve Chair Janet Yellen. This — along with the GDP figure — may give investors more hints on when the Fed might raise interest rates.
In other news, Group of Seven (G-7) country leaders met in Japan and expressed concern on Friday about risks to the world economy, including weak growth. In a statement after the two-day summit, the leaders committed to avoiding "competitive devaluation" of their currencies and warned against "disorderly" exchange-rate moves.
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