LIVE MARKETS-Europe set for muted start

* European stock futures little changed

* Powell: Fed will not raise rates on inflation fears alone

* Asian shares rise

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EUROPE SET FOR MUTED START (0544 GMT)

After two days of gains it looks the post-Fed bounceback is already losing steam in Europe just as the main STOXX 600 regional benchmark remains around 1% below its record peak.

Stock futures are pointing to a muted start later on for the cash market with moves ranging between flat and a fall of 0.1%, even as Asia gained overnight and Wall Street was led higher big tech stocks after Powell reaffirmed the Fed's intent not to raise rates too quickly based only on the fear of inflation.

June flash PMI surveys will be scrutinised for possible new insight into the strength of the recovery while speeches by ECB's Lagarde and De Guindos are also going to be in focus.

(Danilo Masoni)

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