LONDON—European shares recovered from Friday’s losses on Monday as investors focused on company earnings and U.S. Federal Reserve policymakers entered a quiet period ahead of their meeting next week. Stock market moves in Asian trading were small and economic data from China was mixed: industrial output picking up but retail sales missed expectations. China’s central bank unexpectedly eased policy by cutting rates on medium-term loans. Analysts expect more policy easing as growth in the world’s second-largest economy has shown signs of slowing from its rapid rebound after the COVID-19 slump. At 1321 GMT, the MSCI world equity index, which tracks shares in 50 countries, was flat. Europe’s STOXX 600 was up 0.6 percent, having recovered most of Friday’s losses. Markets in the United States are closed for a public holiday, but S&P 500 futures were up 0.2 percent and Nasdaq futures up 0.1 percent. Expectations of central banks tightening policy …