Euro zone April PPI grows 1.2 mm
Remy Cointreau rises on topping profit, upbeat outlook
Airline SAS rises on reports of takeover offer

June 2 Reuters European shares bounced on Thursday, led by industrial and luxury names, with gains limited by lingering worries over slowing economic growth and rising prices.

The panEuropean STOXX 600 index rose 0.6 after losing nearly 2 over the last two sessions.

Volumes are expected to be subdued as London markets are closed for Queen Elizabeth39;s Platinum Jubilee bank holidays.

French spirits group Remy Cointreau climbed 4.9 on beating fullyear profit estimates and providing an upbeat outlook for this year and beyond.

Other luxury stocks followed suit. LVMH, L39;Oreal and EssilorLuxottica were up between 1.7 and 3.1, providing the biggest boosts to the index.

Oil stocks edged lower even as crude prices erased earlier losses after OPEC agreed to boost crude output to compensate for a drop in Russian production. Shell39;s Amsterdam listing and Equinor declined 0.5 and 1.9 respectively.

Data showed Euro zone producer prices rose 1.2 from the previous month in April, below economists39; expectations of 2.3 rise. This followed data earlier this week that showed consumer prices in the region rose to a record high.

Government bond yields jumped to multiyear highs as inflation data this week boosted expectations that the European Central Bank might accelerate its tightening path.

The interest rate expectations are moving quite…