STOXX 600 eyes weekly declines of 4
Tesco slips on warning of changing consumer behaviour
Santander inches up after CEO change

June 17 Reuters European stocks edged higher on Friday, but were set for sharp weekly losses as a slew of interest rate hikes from major central banks fuelled worries about a sharp economic slowdown.

The panEuropean STOXX 600 index rose 0.8 in volatile trade, but was still set for a 4 weekly decline in what could be its worst since early May.

World stock markets were heading for their biggest weekly decline since markets39; pandemic meltdown in March 2020, hit by growing worries about a recession after rate increases in the United States and Britain were followed by a surprise move in Switzerland to quell an inflation surge.

There is unlikely to be sustained relief from the sinking feeling that has hit financial markets this week, Susannah Streeter, a senior investment and markets analyst at Hargreaves Lansdown, said in a note.

The knot of worry about the tricky economic times ahead isn39;t likely to go away any time soon.

The final reading of euro zone inflation for May will be out later in the day.

The STOXX 600 has shed about 17 so far this year on worries over the deteriorating economic outlook and hit to corporate earnings from surging prices and aggressive tightening measures by central banks.

Several regional markets are nearing or have marked a 20 decline from their recent peaks, called a bear market by a commonly used…