FTSE down 0.04%; DAX down 0.02%; CAC 40 down 0.13% (Il Sole 24 Ore Radiocor) - London, 30 Aug - European shares closed flat to lower as investors digested fresh eurozone and US inflation data.

Price pressures in the eurozone dropped to a three-year low of 2.2% in August, according to statistics agency Eurostat, in line with forecasts.

The core rate - excluding energy, food, alcohol and tobacco - fell to 2.8% in August from 2.9% in July, also in line with forecasts.

The reading boosted expectations for a September rate cut from the European Central Bank.

While in the US, the personal consumption expenditures price index showed headline prices in July rose 0.2% from the previous month and 2.5% from a year earlier while the core index, stripping out food and energy prices, was up 0.2% and 2.6%. The reading were broadly in line with expectations.

The London FTSE 100 closed down 0.04% at 8,376.63 points, the Frankfurt DAX shed 0.02% at 18,898.76 points, the Paris CAC 40 fell 0.13% at 7,630.95 points, while in Milan the FTSE MIB gained 0.53% at 34,372.67 points, and in Madrid the IBEX 35 closed 0.34% higher at 11,397.64 points.

AAA-Zap

(RADIOCOR) 30-08-24 18:01:32 (0515) 5 NNNN