FTSE up 0.75%; DAX up 1.33%; CAC 40 up 0.89% (Il Sole 24 Ore Radiocor) - London, 26 Apr - European shares closed higher following upbeat earnings from US tech giants.

Investors also continued to monitor fresh earnings reports from European companies including L'Oreal and TotalEnergies as the earnings season continues in full swing.

Traders also digested data showing that the US core Personal Consumption Expenditures (PCE) index, closely monitored by the Federal Reserve, rose 2.8% on the year which was more than the 2.6% growth expected and in line with the previous month's rate.

The reading comes after data yesterday heightened concerns that price pressures in the world's largest economy might not ease as fast as previously predicted. Traders are scaling back expectations over the timing and number of Fed rate cuts.

The CME Group's FedWatch Tool is currently pricing in a chance of 61.4% for a Fed rate cut at its September meeting.

The London FTSE 100 closed up 0.75% at 8,139.83 points, the Frankfurt DAX gained 1.33% at 18,161.85 points, the Paris CAC 40 rose 0.89% at 8,088.24 points, while in Milan the FTSE MIB added 0.91% at 34,249.77 points, and in Madrid the IBEX 35 closed 1.60% higher at 11,159.50 points.

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(RADIOCOR) 26-04-24 18:07:06 (0550) 5 NNNN