European shares near two-week highs on Fed rate cut expectations

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European shares hit a near two-week high on Wednesday, supported by gains in heavyweight healthcare and technology shares, as expectations that the Federal Reserve will almost certainly cut interest rates next month boosted market sentiment.

European healthcare (.SXDP) shares were the strongest performing sector, rising 1.6%. The sub-index rose for the fifth consecutive session, its longest winning streak since late May. Genmab (GMAB.CO) rose 3.8%, while Bayer (BAYGn.DE) rose 3.2%.