SanDisk (SNDK.O) fell 4.3% in premarket trade after reporting first-quarter results and announcing an 8-for-1 forward stock split.

China's Ministry of Finance and the State Taxation Administration issued guidance on major tax incentives for corporate mergers and reorganizations.

An ECB quarterly survey published Friday showed euro-area inflation expectations for this year and next were revised up and that inflation may not return to the ECB’s 2% target until 2028. The survey raised the average inflation forecast for 2023 to 3.0% from 2.7% and lifted the 2024 forecast to 2.6% from 2.2%. Core inflation forecasts changed little, indicating the upward revision is driven mainly by energy costs, which the ECB says currently sit between its adverse and severe scenarios. Although policymakers left rates unchanged on Thursday, the stronger inflation profile could prompt another ECB rate increase in December.