FTSE up 0.36%; DAX up 0.28%; CAC 40 up 0.49% (Il Sole 24 Ore Radiocor) - Milan, 30 Aug - European shares were higher at midf-session, extending yesterday's gains.

At 1040 GMT, the London FTSE 100 was was up 0.36% at 8,410 points, the Frankfurt DAX was up 0.28% at 18,955 points, the Paris CAC 40 up 0.49% at 7,678 points, while in Milan the FTSE MIB was up 0.62% at 34,404 points, and in Madrid the IBEX 35 was up 0.57% at 11,423 points. Investors digested data showing that eurozone inflation 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.

France's preliminary EU-harmonized consumer price index for August showed an annual increase of 2.2%, down from 2.7% in July, according to the country's statistics office.

In August 2024, consumer prices in Italy rose by 0.2% compared to the previous month and were up 1.1% year on year after rising at a 1.3% annual pace in July, according to preliminary data from statistics institute Istat.

This follows Thursday's CPI reports from Germany and Spain, which indicated that inflationary pressure in both countries is easing.

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(RADIOCOR) 30-08-24 13:07:16 (0303) 5 NNNN