FTSE down 0.06%; DAX down 0.36%; CAC 40 down 0.16% (Il Sole 24 Ore Radiocor) - London, 24 Apr - European shares closed lower, reversing earlier gains, following a downbeat start to trading on Wall Street where investors are gearing up ahead of Big Tech earnings and the US personal consumption expenditures price index for March - the Federal Reserve's favored inflation gauge - due on Friday for fresh hints about the state of the world's biggest economy and outlook for interest rates ahead of the next Fed policy meeting on April 30-May 1.

Markets continued to monitor fresh earnings reports from European companies including Orange, Air Liquide, Iberdrola, Roche, Volvo and Heathrow as the earnings season continues in full swing.

Traders also digested Germany's Ifo Institute's survey on business conditions and expectations for April.

The business climate indicator in Germany rose to 89.4 points from 87.9 the previous month, according to the latest survey released by the Ifo think tank. The figure was above economists' expectations for a reading of 88.8. The current conditions indicator rose to 88.9 in April from 88.1 in March, while the indicator that measures expectations increased to 89.9 from 87.7. The London FTSE 100 closed down 0.06% at 8,040.38 points, the Frankfurt DAX dropped 0.36% at 18,077.35 points, the Paris CAC 40 shed 0.16% at 8,091.86 points, while in Milan the FTSE MIB lost 0.27% at 34,271.12 points, and in Madrid the IBEX 35 closed 0.53% lower at 11,016.31 points.

AAA-Zap

(RADIOCOR) 24-04-24 18:05:03 (0693) 5 NNNN