European stocks rebounded on Friday as investors shrugged off worries about a probable June rate rise in the U.S. and as G7 leaders gathered for a two-day meeting in Japan.

The Eurostoxx 50 closed up 1.47% at 2,962.16, rebounding from yesterday's six-week lows to end the week 0.19% up on a week earlier.

The FTSE 100 surged 1.70% to 6,156.32, led by bottler Coca-Cola HBC and café and pubs operator Whitbread (WTBCY) (WTBCF) . In Frankfurt the Dax climbed 1.23% to 9,916.02, led by Adidas (ADDYY) (ADDDF) and in Paris the Cac 40 rose 1.67% to 4,353.90.

Oil prices shed earlier gains with West Texas crude recently virtually unchanged at $48.15.

Early comments emanating from the G7 meeting and reported by Reuters pointed to an agreement on further fiscal boosters by countries with the headroom - a so-called "go your own way" consensus.

German producer price data out in the European morning showed prices fell a steeper-than-expected 3.1% in April, continuing a near-three-year downward spiral. Consensus expectations had pointed to a 3% decline.

In Paris video games maker Gameloft (GLOFF) closed up 11.2% at €7.99 ($8.99), just under the increased €8.00 value of an unsolicited offer from Vivendi (VIVEF) (VIVHY) . Analysts including Oddo advised shareholders to accept it.

In Zurich Cartier maker Richemont (CFRUY) closed down 4.8% after predicting no near-term improvement in the outlook for luxury goods maker as operating profit in the year ended March came in down 23% and below consensus expectations. Discouragingly, it also reported a double-digit declines in April sales and said the Middle East and Africa was the only region to have posted growth last month.

In London betting company Ladbrokes (LDBKY) (LDBKF) closed up 6.5% after the U.K.'s antitrust regulator indicated it will probably clear its union with the betting shops of Gala Coral Group after up to 400 store disposals.

In London Rolls-Royce (RYCEY) edged up 1.3% despite a Standard & Poor's credit downgrade.