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Europe shares extend gains after US PCE data
LONDON |
LONDON May 30 (Reuters) - European shares extended gains in afternoon trade on Friday after U.S. core personal consumption expenditure (PCE) data met analysts' expectations.
The FTSEurofirst 300 .FTEU3 index of top European shares was up 0.71 percent at 1,339.70 points, just off day's highs hit after the data was released.
U.S. personal spending rose by 0.2 percent in April as forecast and a key measure of inflation moderated, government data showed.
Banks were the top points contributors to the index but airline stocks Lufthansa (LHAG.DE), British Airways BAY.L and Air France-KLM (AIRF.PA) were the top gainers on German, British and French benchmarks, respectively, due to oil prices trading well off recent highs.
Advancers outpaced decliners by 3.5 to 1.
(Reporting by Sitaraman Shankar)
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