(Recasts after European markets open)
* European markets recover from losses after bomb attacks
* Dollar higher, sterling hit by Brexit concerns
* Credit Suisse cost cuts help shares
By Patrick Graham
LONDON, March 23 (Reuters) - European stock markets bounced
back on Wednesday from the concerns over security that have
dominated the past 24 hours, helped by a handful of more
positive signals on the health of the world's major economies.
Some Asian markets fell earlier in subdued trading as
investors pulled back on positions ahead of the long Easter
weekend, opting for caution following the suspected Islamic
State suicide bomb attacks in Brussels.
But the pan-European FTSEurofirst 300 index .FTEU3 rose
half a percent as all of its major markets gained solidly,
helped by a vote of approval from investors for cost cuts
announced by one of Switzerland's two big international banks,
Credit Suisse. CSGN.S
A handful of better-than-expected readings of business
sentiment in Europe on Tuesday had already helped markets resist
deeper falls following the bomb attacks in Brussels.
There was also further support overnight from Federal
Reserve policymakers for the U.S. central bank being able to
plough ahead with rises in interest rates this year.
"A sign of resilience and perhaps a degree of pent up
tolerance to such tragic events has led to a flat to mildly
positive opening in Europe," said Brenda Kelly, head analyst at
London Capital Group.
"(But) I would not say that risk is definitively back on."
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS fell almost 0.5 percent, its first decline in
six days. Japan's Nikkei .N225 surrendered earlier gains to
close down 0.3 percent but Chinese shares .SSEC .CSI300
gained around 0.4 percent.
Britain's pound was the bigger loser among major currencies
after the Brussels attacks, hit by concern that it would bolster
the campaign for a vote to leave the European Union in June's
"Brexit" referendum.
It was back on the defensive against the dollar on Wednesday
and derivatives allowing investors to insure themselves against
sharp moves in sterling exchange rates ahead of that vote
soared. GBPVOL=
The dollar has taken substantial support from the flow of
comments from Fed officials over the past 48 hours, all
essentially read as keeping alive the chances of a rise in its
main interest rates in June.
"This week you've had U.S. inflation data tick up a bit,
some hawkish comments, and then you've had that big paring back
in dollar longs over the past year," Rabobank currency
strategist Jane Foley said.
"That suggests to me it might be difficult for the dollar to
carry on going down... The Fed is still the only central bank in
rate hike mode in the G10."
Oil prices, a big driver of market sentiment over the past
year, were less than 1 percent lower. LCOc1 O/R