LIVE MARKETS-Weak open, market recovery on pause

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WEAK OPEN, MARKET RECOVERY ON PAUSE

The bounce in European equity markets has faded this week, with major markets set to fall for the first time in five weeks as markets renewed their worries about a growth and inflation shock, with energy supply still severely disrupted.

Energy prices remained elevated, with Brent crude futures LCOc1 holding around $106 per barrel as traffic through the Strait of Hormuz remained minimal.

The impact of the war and higher energy prices is starting to show up in the data. Business activity in the euro zone suffered a surprise contraction in April, while British companies said they saw cost pressures spreading at a record pace.

That's weighed on stock markets. The pan-continental STOXX 600 .STOXX is down 0.6% on Friday and down 2.6% for the week.

Most other major bourses are also in the red, although Germany's DAX .GDAXI is flat, helped by a 6.5% rise in software company SAP SAPG.DE after first-quarter profit beat estimates.

Swedish home appliances maker, Electrolux ELUXb.ST, is Europe's biggest laggard after reporting a first-quarter loss on slumping U.S. demand. Shares have shed about 25%.

Here's your opening snapshot:

(Samuel Indyk)

EARLIER ON LIVE MARKETS:

EUROPE BEFORE THE BELL: STOCKS SET FOR DROP, HEADING FOR SHARP WEEKLY FALL CLICK HERE

IRAN FLAUNTS ITS GRIP, INVESTORS COWER CLICK HERE