FTSE 100 up 0.58%; DAX up 0.57%; CAC 40 up 0.32% (Il Sole 24 Ore Radiocor) - Milan, 26 Apr - European shares opened higher, rebounding from yesterday's drop after gains in Asia and moderate losses on Wall Street overnight, with the Stoxx 600 index up 0.55%.

At 0735 GMT the FTSE 100 was up 0.58% at 8,125 points, hovering at all-time highs as it rose for an eighth straight session, with hopes of a forthcoming interest rate cut from the Bank of England helping lift sentiment.

The Frankfurt DAX was up 0.57% at 18,026 points. The Paris CAC 40 was up 0.32% at 8,042 points, while in Milan the FTSE MIB was up 0.62% at 34,150 points and in Madrid the IBEX 35 was up 0.81% at 11,072 points.

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

Traders now awaited US personal consumption expenditures, the Federal Reserve's preferred inflation gauge, later today 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.

In European stock market dealings technology shares rallied after stronger-than-expected earnings from US giants Microsoft and Alphabet.

Construction stocks were also broadly higher, while chemicals slid.

US stock futures pointed to a higher open as sentiment was boosted by the BigTech names' strong results.

Yesterday European shares closed mostly lower after data showed that the US economy slowed in the first quarter of 2024 as inflation remained persistently high.

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(RADIOCOR) 26-04-24 09:58:16 (0235) 5 NNNN