FTSE up 1.21%; DAX up 0.68%; CAC 40 up 1.22% (Il Sole 24 Ore Radiocor) - London, 26 Jul - European shares closed higher, rebounding from a three-day drop as a global selloff eased, after data from the US showed that inflation continued to ease.

The US Personal Consumption Expenditures (PCE) index rose just 0.1% in June from the previous month and was up 2.5% on the year compared to last month's 2.6% rise. The core PCE index, stripping out volatile food and energy, rose 2.6%, slightly above expectations but its slowest annual increase in more than three years.

Investors also monitored earnings reports from European companies including BASF, Mercedes, Eni, Holcim, Air Liquide, Bouygues and NatWest.

The London FTSE 100 closed up 1.21% at 8,285.71 points, the Frankfurt DAX added 0.68% at 18,429.02 points, the Paris CAC 40 gained 1.22% at 7,517.68 points, while in Milan the FTSE MIB rose 0.12% at 33,812.44 points, and in Madrid the IBEX 35 closed 0.15% higher at 11,162.37 points.

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(RADIOCOR) 26-07-24 18:14:21 (0620) 5 NNNN