FTSE up 0.37%; DAX up 0.45%; CAC 40 up 0.69% (Il Sole 24 Ore Radiocor) - London, 18 Apr - European shares closed higher, supported by a positive start on Wall Street, as speculation of an early interest rate cut in the eurozone gathered momentum.

The Stoxx 600 index closed up 0.32%.

ECB policymaker Francois Villeroy de Galhau told CNBC today the European Central Bank should cut interest rates in June, barring a major surprise. The Bank of France head said there was a very large consensus it was time to take this "insurance" against what he called a second risk of being 'behind the curve and paying a too high cost in terms of economic activity and employment.' His comments came after ECB President Christine Lagarde said earlier this week the central bank remained on course to cut interest rates in the near term, subject to any major shocks.

Investors meanwhile monitored fresh earnings reports from European companies including Swiss engineering company ABB, Finnish telecom giant Nokia and UK airline Easyjet as the first quarter earnings season begins to pick up pace in the region.

Oil prices fell for a fourth day, slipping from a near six-month high on easing supply concerns as traders dismissed the risk of a wider war between Israel and Iran.

The London FTSE 100 closed up 0.37% at 7,877.05 points, the Frankfurt DAX was 0.45% higher at 17,850.81 points, and the Paris CAC 40 rose 0.69% to 8,036.54 points, while in Milan the FTSE MIB grew 0.74% to 33,881.50 points and in Madrid the IBEX 35 closed 1.30% higher at 10,772.60 points.

AAA-Sje

(RADIOCOR) 18-04-24 17:56:42 (0614) 5 NNNN