(Il Sole 24 Ore Radiocor) - Milano, 11 set - European share prices were higher at midday, as easing oil prices offered some relief to investors ahead of a closely watched US inflation report due later in the session.

Oil prices extended their pullback in early trade but remained on track for a weekly gain of around 10% after climbing back above 100 dollars a barrel.

The International Energy Agency now expects global oil demand to contract by 2.5 million barrels a day in 2026, a deeper cut than the 1.6 million barrel a day decline forecast in its previous report, as the stalemate in US-Iran talks delays a return to normal supply flows until next year.

The agency also pushed back its outlook for a Gulf production recovery to 2027, with global oil supply now seen falling 5.7 million barrels a day this year.

On the data front, in Italy, the seasonally adjusted unemployment rate rose to 5.6% in the second quarter, up 0.1 percentage points from the previous three months, while the employment rate climbed to 63.1% and the inactivity rate fell to 33.0%, Istat said.

At 0946 GMT, London's FTSE 100 was up 0.42% at 10,653.58 points while in Frankfurt the DAX gained 0.41% to 25,504.93 points and in Paris the CAC 40 rose 0.52% to 8,159.07 points.

Milan's FTSE MIB advanced 0.69% to 52,164.50 points while in.

Madrid the IBEX 35 was up 0.72% at 19,800.92 points.

(RADIOCOR) 11-09-26 11:56:28 (0292) 5 NNNN