FTSE 100 up 0.44%; DAX up 0.30%; CAC 40 up 0.69% (Il Sole 24 Ore Radiocor) - Milan, 08 May - European shares opened moderately higher, rising for a fourth straight session after slight gains in Asia and on Wall Street overnight. The Stoxx 600 index was up 0.33%.

Investors continued to monitor fresh earnings reports from European companies including BMW, Munich Re, Siemens Energy, Alstom, Skanska, ABInbev and Swatch Group.

Uncertainty over the timing of potential US interest rate cuts kept sentiment in check after mixed signals from US policymakers. Minneapolis Federal Reserve president Neel Kashkari said yesterday that the Fed could keep interest rates steady for the rest of the year amid stubborn inflation, undermining expectations of rate cuts.

The comments come after last Friday's weaker-than-expected nonfarm payrolls data had fueled expectations of a September rate cut, helping lift the equity markets.

Last week the US central bank decided to hold interest rates steady at a range of 5.25% to 5.5% as widely expected amid sticky inflation, but Fed Chair Jerome Powell downplayed the possibility of a rate hike as the central bank's next move.

Traders also digested data showing that German industrial production contracted in March, falling by 0.4% from to the previous month after increasing by 1.7% in February and adding to expectations of an early rate cut from the European Central Bank.

Data showed yesterday that German industrial orders fell in March by 0.4% on the previous month, below the expected 0.4% rise.

In European stock market dealings most sectors were higher, with food and beverage stocks leading the gains while car makers dropped.

US stock futures pointed to a muted open after yesterday the Dow Jones Industrial Average wrapped its fifth straight positive session.

At 0736 GMT, the FTSE 100 was up 0.44% at 8,349 points, the the Frankfurt DAX was up 0.30% at 18,493 points. The Paris CAC 40 was up 0.69% at 8,131 points, while in Milan the FTSE MIB was down 0..05% at 34,224 points and in Madrid the IBEX 35 was up 0.15% at 11,097 points.

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(RADIOCOR) 08-05-24 09:52:43 (0241) 5 NNNN