Doha: European stocks closed near a two-week high today, supported by strong gains in major healthcare and technology companies, driven by growing expectations that the U.S. Federal Reserve will almost certainly cut interest rates next month. The European Stoxx 600 index closed up 0.5%.

According to Qatar News Agency, the healthcare sector led the gains, rising 1.6%, marking its fifth consecutive session of growth. Shares of Danish biotech firm Genmab rose 3.8%, while German biotech company Bayer gained 3.2%.

Glanbia, a nutritional supplements producer, was the top performer on the Stoxx 600, surging 15.8% after the company raised its full-year earnings outlook. On the downside, shares of British insurance firm Beazley fell 12.3%, marking their worst daily performance since September 2020, after the company cut its annual growth forecast – making it the worst performer on the index.