European stock markets on Friday failed to match soaring gains overnight in Asia and on Wall Street, as recession prospects offset a boost from slower US inflation. London’s benchmark FTSE 100 index fell in midday deals after official data indicated that the UK economy was likely at the start of a prolonged recession. “The FTSE’s struggles suggest UK investors are more worried about deteriorating domestic, eurozone and global economies than are hopeful about the US and other central banks easing rate hikes,” noted Fawad Razaqzada, market analyst at City Index trading group. Frankfurt and Paris managed to advance around half-a-percent but gains were capped as the EU warned the eurozone was set to fall into recession this winter. Brussels also hiked regional inflation forecasts for 2022 and 2023 on the back of high energy prices. Asian equities closed sharply higher after a bumper session on Wall Street Thursday, as lower US inflation dimmed expectations of more aggressive interest-rate hikes from the Federal Reserve. Hong Kong’s main equities index rocketed more than 7.7 percent, while Tokyo won three percent. Shanghai won 1.7 percent and oil prices rose strongly as China relaxed some hardline Covid-19 restrictions. In the US, annual inflation came in at a lower-than-expected 7.7 percent in October, down from 8.2 percent in September.