rose to a two-week high on Tuesday, lifted by increasing bets of a larger U.S. interest rate cut and strength in domestic retail shares after an improved forecast from
With all eyes on the Federal Reserve's expected first interest rate cut on Wednesday, traders lifted the chances of a larger-than-usual 50-basis-point reduction to 67% from 50% on Monday, as per the CME's FedWatch tool. UK inflation data, due on Wednesday, will also be closely watched for more indications on the BoE's rate path.) rose 0.5% after the company said it will sell its Italian unit Snaitech for 2.3 billion euros to Flutter Entertainment. Flutter shares were up 1%.) slumped 24% after the plastic and metal components supplier warned that annual operating profit could miss market expectations due to weaker conditions in Europe and slower recovery in the Americas.