FTSE 100 up 0.14%; DAX up 0.36%; CAC 40 up 0.16% (Il Sole 24 Ore Radiocor) - Milan, 13 Aug - European shares opened moderately higher, extending a recent 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 0.33% in early trade.

Investors awaited US consumer price index data due tomorrow 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.

Economists polled by Reuters expect the headline rate to tick higher to 2.3%, up from 2% over the past two months.

Meanwhile, UK wage data released today showed that between April and June pay excluding bonuses grew 5.4% year-on-year at the lowest rate in two years.

The UK's unemployment rate fell to 4.2% from 4.4%. Economists polled by Reuters had expected an increase of 4.5%.

In the region's stock market dealings most sectors were higher, with financial services shares among the biggest advancers while travel and leisure stocks slid.

At 0730 GMT the London FTSE 100 was up 0.14% at 8,245 points, the Frankfurt DAX was up 0.36% at 17,775 points, the Paris CAC 40 up 0.16% at 7,262 points, while in Milan the FTSE MIB was up 0.27% at 32,013 points, and in Madrid the IBEX 35 was up 0.42% at 10,691 points.

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(RADIOCOR) 13-08-24 09:59:52 (0222) 5 NNNN