# STOXX 600 set for best week in more than 3 months on US rate cut hopes
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2024-08-16
Category: Headlines
Category URL: https://startupobserver.com/category/headlines/
Meta Title: European shares rise as investors anticipate Fed rate cut
Meta Description: European shares open higher as global markets anticipate a September rate cut by the Federal Reserve. STOXX 600 up 0.3% at two-week highs.
URL: https://startupobserver.com/stoxx-600-set-for-best-week-in-more-than-3-months-on-us-rate-cut-hopes/

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(Reuters) – European shares opened higher for the fourth straight session on Friday as upbeat risk sentiment prevailed across global markets and investors geared up for a September rate cut by the Federal Reserve.

The pan- [European](https://startupobserver.com/european-car-sales-rise-in-may-acea/) STOXX 600 was up 0.3% by 0710 GMT, at two-week highs. The benchmark was set to witness its best [week](https://startupobserver.com/french-wheat-protein-slips-further-in-latest-harvest-results/) since May 6.

Almost all regional bourses were trading in the green, with Italy’s [FTSE](https://startupobserver.com/ftse-100-extends-record-streak-on-company-news/) MIB outperforming peers with a 2.1% gain.

London’s FTSE 100 ticked 0.2% lower after British retail sales rose 0.5% in July, in line with forecasts.

Bayer rose 7% after it won a legal victory in its fight to limit liability from claims that its Roundup weed killer causes cancer.

Stellantis [rose](https://startupobserver.com/car-sales-push-irish-retail-sales-sharply-higher-again/) 2.6% despite the European-American automaker being sued by shareholders in the U.S. who said the firm defrauded them by concealing rising inventories and other weaknesses.

UBS gained 1.1% after the Swiss bank said it will liquidate a $2 billion real estate fund it acquired when it bought Credit Suisse.

(Reporting by Pranav Kashyap in Bengaluru; Editing by Mrigank Dhaniwala)


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