(Il Sole 24 Ore Radiocor) - Milano, 13 mag - European shares closed higher as US president Donald Trump's started his two-day visit to China and investors digested a wave of corporate earnings as well as cautious economic data.

Investors are closely monitoring the upcoming talks between Trump and Xi Jinping, hoping China might influence Iran to reopen the Strait of Hormuz, though the conflict in the Middle East shows little sign of easing.

Market participants are also weighing the latest energy outlook, as the IEA warned that the global oil market will likely remain in deficit until the fourth quarter of 2026.

Meanwhile, US inflation accelerated to 3.8% in April. The reading comes a day after consumer price data grew at their highest rate in April for three years. Investors are now concerned renewed inflationary pressure will prompt the Federal Reserve to put back interest rate cuts or even possibly consider a rate hike.

On the data front, eurozone GDP increased by 0.1% quarter on quarter and 0.8% year on year in the first quarter of 2026.

Meanwhile, industrial production in the euro area rose 0.2% in March compared to the previous month, but fell 2.1% on an annual basis.

The London FTSE 100 closed up 0.35% at 10.301.36 points, the Frankfurt DAX added 0.75% at 24,153.49 points, the Paris CAC 40 rose 0.35% at 8,007.97 points, while in Milan the FTSE MIB gained 1.00% at 49,480.70 points, and in Madrid the IBEX 35.

closed 0.43% higher at 17,649.32 points.

(RADIOCOR) 13-05-26 18:07:26 (0686) 5 NNNN