LONDON, Nov 11 (Reuters) - European shares edged higher in early trading on Monday, with investors betting that the growing pace of U.S. economic recovery will offset any negative impact of the Federal Reserve's likely move to cut stimulus.
The FTSEurofirst 300 rose 0.1 percent 1,296.12 points by 0807 GMT. It rose for a fifth straight week last week and is up 14 percent this year.
Portugal's PSI 20 outperformed other regional bourses, up 0.4 percent after Moody's changed its outlook on the country's rating to "stable" from "negative".
U.S. stocks gained 1.1 to 1.6 percent in the previous session, while Japanese shares climbed 1.3 percent on Monday after Friday's strong U.S. jobs data showing the creation of 240,000 jobs last month, much higher than expected 125,000.
The jobs report raised concerns that the U.S. central bank could soon start trimming its bond buying operations, which have supported equities and helped them to scale new highs, sooner than expected, but investors focused on the positive impact of the strength of the economy.
On the down side, RSA Insurance slumped 16 percent after saying on Sunday it has commissioned an independent review of its financial and regulatory reporting processes and controls after it suspended three senior executives at its Irish unit.