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European stocks cautiously higher as market uncertainty lingers; Sweden's Riksbank cuts rates

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European stocks were cautiously higher Tuesday as market uncertainty over the outlook for interest rate cuts lingers.

index was up 0.15% in early deals, with sectors and major bourses trading in mixed territory. Tech stocks added 1.28%, while oil and gas fell 1.2%.Reuters last week that the company was looking for a big pharma partner to help bring its weight loss drug to market.

In central bank news, Sweden's Riksbank cut interest rates by 25 basis points to 3.50% from 3.75%, and signaled more rate cuts to come. Global markets will now be focused on key Federal Reserve events this week. Minutes from the central bank's most recent meeting will be released Wednesday, before Fed Chair Jerome Powell's Jackson Hole, Wyoming, speech on Friday.

Both events could give investors more clarity on the outlook for interest rate cuts and what to expect at the Fed's next meeting. Fed futures funds pricing indicates a roughly 76% likelihood of central bank policymakers lowering rates by 25 basis points in September, per theVeteran investor Mark Mobius says this 'historically significant' factor could set back U.S. stocks

 

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