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STOXX 600 up 0.2%

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Britain's economy showed no growth on a month-on-month

basis

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Commerzbank surges after Unicredit bought 9% stake

(Updated at 0820 GMT)

By Pranav Kashyap

Sept 11 (Reuters) - European shares opened higher on

Wednesday, boosted by the tech and basic resources sectors,

while investors awaited a key U.S. inflation reading for clues

on the Federal Reserve's interest rate decision next week.

The pan-European STOXX 600 index was up 0.2%. All

regional indexes were trading in the green.

Heavy-weight ASML Holding's 3.8% gain caused the

technology sector to rise 1.4%.

Basic resources also provided support, gaining 1.2%,

as copper prices rose on a softer U.S. dollar.

Britain's benchmark FTSE 100 ticked up 0.4% after

estimates of GDP data showed the UK's economic output showed no

change in month-on-month terms in July.

With only a handful of economic data out of Europe,

investors are laser focused on U.S. consumer price figures set

to drop at 1230 GMT.

Traders anticipate the Fed will cut interest rates at its

meeting next week. However, there is some uncertainty regarding

the extent of the rate cut. There is a 33% probability of a

50-basis-point cut.

Global investors approached the markets with caution

following the first debate between U.S. presidential candidates

Kamala Harris and Donald Trump, which took place overnight. The

debate lacked specific details, but betting markets shifted in

favour of Harris after the event.

"Investors are trying to grapple with an elevated degree of

uncertainty. We're going to see greater bouts of volatility

heading into that November election until it becomes clear on

the policy front," Laura Cooper, global investment strategist at

Nuveen.

Markets also have on their radar, comments from European

Central Bank board member Elizabeth McCaul and the central

bank's supervisor Claudia Buch due later in the day.

The European Central Bank that meets in less than 24 hours

is expected to cut interest rates by 25 basis points.

"Markets are going to take cues from Christine Lagarde's

press conference where she will want to keep that flexibility

open instead having a predetermined target level," Nuveen's

Cooper said.

Commerzbank surged nearly 16%, after Italy's

UniCredit bought a 9% stake in the German bank for 702

million euros ($775.29 million) from the German government.

Rentokil slumped 18.5%, after the British pest

control firm flagged a slowdown in its North American revenue

and said it would cut jobs.

Inditex rose 4.2%, lifting the retail sector

to the top, after the Zara owner reported stronger

recent sales of its first autumn-winter collections.

(Reporting by Pranav Kashyap in Bengaluru; Editing by Rashmi

Aich and Mrigank Dhaniwala)