European Markets Close Higher On Rate Cut Hopes

(RTTNews) - European markets, back to business after a long weekend, closed mostly higher on Wednesday, amid expectations the Federal Reserve will likely cut interest rates in March 2024. Several other central banks are also widely expected to ease their policy tightening to spur growth.

The pan European Stoxx 600 ended 0.21% up. The U.K.'s FTSE 100 climbed 0.36%, Germany's DAX gained 0.21% and France's CAC 40 edged up 0.04%, while Switzerland's SMI ended 0.35% down.

Among other markets in Europe, Austria, Belgium, Finland, Greece, Iceland, Ireland, Netherlands, Norway, Poland and Sweden ended higher.

Denmark, Portugal, Russia and Spain closed marginally up, while Turkiye ended weak.

In the UK market, Anglo American Plc, Rentokil Initial, Hargreaves Lansdown, Phoenix Holdings, Entain and Segro gained 2 to 3%.

Fresnillo, Ashtead Group, Spirax-Sarco Engineering, Intertek, JD Sports Fashion, Natwest Group, Prudential and DCC advanced 1.2 to 1.8%.

Carnival ended nearly 6% down. Rolls-Royce Holdings, Vodafone Group, Imperial Brands, Smurfit Kappa Group and BT lost 1 to 1.2%.

In the German market, Bayer climbed about 2.3% after the company said it had won a trial linked to a lawsuit filed by a Californian who alleged cancer development due to exposure to Bayer's Roundup weedkiller.

Siemens Energy rallied nearly 5.5%, while SAP, Vonovia and Puma gained 1 to 1.2%.

E.ON, Fresenius, Zalando, Munich RE and Deutsche Telekom ended down 0.7 to 1.2%.

In Paris, WorldLine surged nearly 3%. Alstom, Societe Generale, Capgemini and Kering gained 1 to 1.5%. Veolia, Orange, Hermes International, Renault and LVMH closed weak.