European shares climb as investors see 'fog of inflation clearing slightly'

Last week's report showed US consumer prices rising at a slower pace and the rate-sensitive technology index in Europe climbed by 1.7%, as eurozone bond yields slipped in line with US yields. 

European shares closed higher, boosted by gains in technology and commodity stocks after softer-than-expected US inflation data bolstered hopes of less aggressive US interest rate hikes in the coming months.

The continent-wide Stoxx-600 index logged its fourth straight session of gains after softer-than-expected US producer prices data provided further evidence that inflation was starting to subside.