FTSE 100 up 0.44%; DAX up 0.58%; CAC 40 up 0.28% (Il Sole 24 Ore Radiocor) - Milan, 12 Aug - European shares opened moderately higher, extending Friday's rebound on growing hopes that concerns over a US recession were overblown after better-than-expected jobless claims data released last week dissipated some concerns about the health of the world's biggest economy.

The Stoxx 600 index was up 0.29% in early trade.

Investors awaited US consumer price index data due on Wednesday for more cues on the Federal Reserve's interest rate path.

The reading is expected to show inflation cooled slightly in July.

The market currently sees a 49% chance of the Fed cutting by 50 basis points in September, down from 100% a week ago.

UK inflation data is also due on Wednesday, the first reading since the Bank of England cut interest rates by 25 basis points.

In the region's stock market dealings most sectors were higher, with financial services and insurance shares among the biggest advancers.

Global stocks dipped last Monday, with the S&P 500 index posting its biggest daily drop since 2022 after weaker-than-expected US nonfarm payrolls data rekindled concerns over the health of the world's biggest economy and the unwinding of the yen carry trade, following a hawkish pivot by the Bank of Japan, added to heightened volatility.

At 0745 GMT the London FTSE 100 was up 0.44% at 8,203 points, the Frankfurt DAX was up 0.58% at 17,804 points, the Paris CAC 40 up 0.28% at 7,290 points, while in Milan the FTSE MIB was up 0.62% at 31,979 points, and in Madrid the IBEX 35 was up 0.54% at 10,696 points.

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(RADIOCOR) 12-08-24 09:54:47 (0148) 5 NNNN