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STOXX 600 up 0.6%

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Entain ( GMVHF ) up after beginning H2 ahead of expectations

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Adidas falls after Barclays downgrades rating

(Updated at 0815 GMT)

By Pranav Kashyap

Sept 9 (Reuters) - European shares began the week on a

positive note after the benchmark index saw its worst day in

more than a year on Friday, while investors await a slew of

economic data and expect the European Central Bank to cut

interest rates later in the week.

The pan-European STOXX 600 index was up 0.6% by

0815 GMT on Monday, after it posting its worst weekly

performance since October 2023.

All regional bourses advanced between 0.5% and 1%.

Investors will parse through consumer price inflation

figures from Germany, Spain and France due later in the week.

Britain's employment and GDP data are scheduled for Tuesday

and Wednesday, respectively.

Taking centre stage is the European Central Bank's rate

decision, due on Thursday. It is widely expected that ECB will

cut rates by 25 basis points.

Investors have fully priced in this cut and their primary

focus will be on the commentary from ECB President Christine

Lagarde regarding the possibility of further cuts in October and

December.

Traders will also be looking for hints from several ECB

members who are scheduled to speak at various events throughout

the week.

"ECB was ready, willing and able to start with consecutive

rate cuts, but there is a sense that there is a caution around,"

Aoifinn Devitt, interim chief investment officer at London CIV,

said.

"The ECB should be ready to unleash a series of cuts, but

it's looking to be quite a shallow cut cycle."

A rebound of 1.3% in tech stocks boosted the

benchmark index after tech stocks recorded their worst week in

nearly two months.

Travel and leisure outperformed other sectors,

rising 1.3%. The sub-index was boosted by a 6.7% gain in Entain ( GMVHF )

after the British gambling group said the second half of

this year started better than expected.

Adidas AG lost 3.5% after Barclays downgraded the

stock to "equal weight" from "overweight".

Across the Atlantic, markets await U.S. consumer and

producer price figures due later in the week.

On Tuesday, Democrat Kamala Harris and Republican Donald

Trump will debate for the first time ahead of the presidential

election on Nov. 5.

"The impact on Europe of Trump getting elected could be

quite severe in terms of tariffs, and lack of cooperation,"

London CIV's Devitt said.