FTSE 100 down 0.28%; DAX down 0.56%; CAC 40 down 0.75% (Il Sole 24 Ore Radiocor) - Milan, 02 Sep - European shares opened lower on the first trading day in September after Friday's flat close.

Investors remained on the sidelines as they looked for fresh direction, with the Stoxx 600 index down 0.34%.

Caution prevailed as the US markets are closed today for the Labor Day public holiday.

Data showed on Friday that eurozone inflation dropped to a three-year low of 2.2% in August, according to statistics agency Eurostat, in line with forecasts.

The reading boosted expectations for a September rate cut from the European Central Bank.

In the US, data released last week showed the Fed's preferred inflation gauge, the personal consumption expenditures price index, was in line with estimates from economists polled by Dow Jones, rising 0.2% on a monthly basis in July and 2.5% from a year ago.

Traders now monitored the latest manufacturing PMIs from Spain, Italy, France, the UK and Germany.

In European stock market dealings most sectors were lower, with miners among the biggest decliners after Friday's gains.

At 0728 GMT the London FTSE 100 was was down 0.28% at 8,353 points, the Frankfurt DAX was down 0.65% at 18,784 points, the Paris CAC 40 down 0.75% at 7,574 points, while in Milan the FTSE MIB was down 0.51% at 34,199 points, and in Madrid the IBEX 35 was down 0.47% at 11,348 points.

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(RADIOCOR) 02-09-24 09:37:00 (0144) 5 NNNN