STOXX 600 up 1.5, up 3 this week
Tech, industrials, luxury biggest boosts
Energy weighs on London39;s FTSE 100 as oil falls

May 27 Reuters European shares marked their best week since midMarch, ending Friday on a strong note as upbeat U.S. data and easing bets about aggressive interest rate hikes lifted sentiment.

The panEuropean STOXX 600 index rose for a third straight session, closing up 1.5, taking weekly gains to 3. Germany39;s DAX ended at an over onemonth high, up 1.6.

Technology stocks led gains among sectors, up 3.3, while industrials and luxury stocks were among the biggest boosts to the STOXX 600.

A rally on Wall Street on some strong retail and technology earnings and upbeat consumer spending data for April, helped calm some worries about slowing economic growth that had roiled markets. Data also showed U.S. inflation slowed last month.

Banks shone this week, up 6 as major central banks stayed on course to hike interest rates.

Central banks have adopted a tightening stance to fight surging inflation, leaving investors worried about a likely hit to economic growth, but equity markets found some respite on signs monetary policy may not be more aggressive than indicated.

Minutes of the U.S. Federal Reserve39;s early May meeting showed the bank could pause after 50 basis points hikes in the next two months.

Markets feel a little happier that they know where things are going to go, and also that there39;s going to be a real focus from central banks to…