European share indexes rose more than 1 percent on Wednesday, boosted by tame U.S. inflation data, while mining and metal stocks surged. A sharp fall in oil prices lent support, with U.S. light crude sliding more than 3 percent to below $48 a barrel after U.S. weekly reserves data showed a larger-than-expected rise in crude inventories. Compass Group bucked the firmer trend, slipping 5.6 percent after the UK-based caterer posted a fall in first-half profits and as investors reacted negatively to detail from a strategic review, Reuters reported. The FTSEurofirst 300 index of European blue chips closed up 12.8 points, or 1.2 percent, at 1,087.3 points, its largest one-day points gain since October last year, taking the index to a one-month peak. The DJ Euro Stoxx 50 index rose 1.8 percent to 3,036.3 points. Indexes have struggled to make headway for much of this year as investors grapple with concerns about rising U.S. interest rates and slower global growth, despite strong company profits. "In an international context, I don't think valuations are a problem," said Juliet Cohn, a fund manager at Principal Global Investors Europe. --More 2343 Local Time 2043 GMT
