European stocks close lower as interest rate outlook weighs on sentiment; Ocado up 6%

This was CNBC's live blog covering European markets.

European markets closed lower on Friday, mirroring a global trend as the U.S. interest rate outlook weighed on sentiment.

The regional Stoxx 600 index was down by 0.17%, trimming some losses into the close. Most sectors finished in the red as utilities led losses for a second day, down 1.2%, while retail stocks rose 0.3%.

The pan-European benchmark closed down 0.26% for the week.

Wall Street's Dow Jones Industrial Average had its worst session in more than a year on Thursday, after the minutes of the last Federal Reserve meeting and strong U.S. economic data reinforced a "higher for longer" narrative stateside. On Friday, U.S. stocks ticked higher at the end of a choppy week.

While the European Central Bank still looks on track to begin cutting interest rates in June, the Bank of England's own course was thrown further into doubt this week by hotter-than-expected inflation figures.

British grocery delivery from Ocado was up by 6% as markets closed in London on Friday afternoon.

The rally came as JPMorgan analysts raised their target price on the firm to 450 pence, from 350 pence.

-Matt Clinch

The regional Stoxx 600 index was down by 0.17%, trimming some losses into the close.

Most sectors finished in the red as utilities led losses for a second day, down 1.2%, while retail stocks rose 0.3%.

The pan-European benchmark closed down 0.26% for the week.

-Matt Clinch

Investors who ran from Turkey in droves over the last several years may want to start heading back, the latest report from Citi on the country's nascent signals.

After more than half a decade of dramatically depreciating currency, burning through FX reserves and unorthodox monetary policy, Turkey's economy is