FTSE down 0.19%; DAX up 0.27%; CAC 40 down 0.68% (Il Sole 24 Ore Radiocor) - London, 28 Jun - European shares closed lower as markets assessed the latest US data showing that inflation was easing but was in line with expectations.

The US personal-consumption expenditures price index for May came in at the slowest annual rate of growth in more than three years. Core PCE, the Fed's preferred measure of inflation, grew 2.6% from the same month last year and was up 0.1% on the month compared to April's 0.3% rate. Both readings met economists' estimates.

Traders are now pricing in a 64% chance of a first Fed cut in September, up from 50% a month ago, according to the CME FedWatch tool.

Investors also looked ahead to the first round of voting in the French election next weekend, after president Emmanuel Macron called for a snap legislative vote in a political gamble after a crushing defeat for his party in the European Parliament elections. to take place on June 30th and July 7th.

Marine Le Pen's far-right National Rally (Rassemblement National) party is leading in the polls, followed by a left-wing coalition, while Macron's centrist alliance trails behind in third place.

The second round of the election will take place on July 7 in constituencies where no candidate wins more than 50% of the vote in the first round.

The London FTSE 100 closed down 0.19%% at 8,164.12 points, the Frankfurt DAX rose 0.27% at 18,253.85 points, the Paris CAC 40 dipped 0.68% at 7,479.40 points, while in Milan the FTSE MIB lost 0.10% at 33,154.05 points, and in Madrid the IBEX 35 closed 0.19% lower at 10,930.82 points.

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(RADIOCOR) 28-06-24 18:17:36 (0562) 5 NNNN