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* Rio Tinto considered bid for BHP-target Anglo American -report

* Green energy production in Italy boosts Enel's Q1 results

* Medical gear maker Getinge plummets after FDA's safety warning

May 10 (Reuters) - Europe's benchmark stock index hit a record high on Friday, on track for its biggest weekly gain since late January, as risk appetite was bolstered by growing bets of interest rate cuts in the region and a strong earnings season.

The pan-European STOXX 600 climbed 0.8%, as of 0830 GMT, with Germany's benchmark index also touching a record high.

European shares have reclaimed their record-breaking rally, with the STOXX 600 eyeing a 3% weekly gain, after investors took a breather in April. The euphoria around artificial intelligence and monetary policy easing, among others, had sparked bumper gains in the region's stocks since late 2023.

"An improved macro backdrop should be supportive for the European equity market... valuations remain very reasonable and perhaps there's still some room for them to expand," said Thomas McGarrity, head of equities, RBC Wealth Management in the British Isles.

Underscoring Europe's divergence from the U.S. Federal Reserve and boosting equities, the Bank of England hinted at summer rate cuts and Sweden's Riksbank delivered its first cut since 2016 earlier this week. Meanwhile, the European Central Bank in its latest policy meeting signalled a June rate cut.

RBC's McGarrity expects both the ECB and the BoE to cut rates three times this year, supporting their economies.

Minutes from the ECB's last policy meeting, due on Friday, are in focus now.

Utilities advanced 1.8%, with Italy's Enel rising 3.6% following a higher first-quarter core profit. Portugal's largest utility firm EDP climbed 4.2% after a bigger-than-expected jump in first-quarter net profit.

Basic resources rose 1.7%, tracking higher metal prices. Anglo American advanced 1.8% after a report said mining giant Rio Tinto had considered an offer for the British miner.

Iveco Group jumped 6.6%, after the Italian truck and bus maker reported higher first-quarter operating profit, with margin improving in all business segments.

Zalando rose 3.3% after Berenberg upgraded the German online retailer to "buy" from "hold", while Italian defence group Leonardo rose 4% after UBS upgraded the stock to "buy" from "neutral".

On the flip side, Getinge slumped 7.5% after the U.S. FDA issued a warning on the safety of two of the Swedish medical equipment maker's heart devices.

British real-estate portal Rightmove lost 5% after cutting its 2024 average revenue per advertiser (ARPA) growth estimates.

Symrise dropped 1.1% after Berenberg downgraded the German flavour and fragrance maker to "hold" from "buy". (Reporting by Ankika Biswas in Bengaluru; Editing by Rashmi Aich and Eileen Soreng)