Miners hit 7week peak tracking metal prices
Embracer jumps on plans to slash spending
Admiral sinks to bottom of STOXX 600

June 13 Reuters European shares rose on Tuesday, boosted by technology stocks and as miners tracked a bounce in metal prices after China cut interest rates, amid growing hopes that the U.S. Federal Reserve would skip raising rates in its policy meeting.

The panEuropean STOXX 600 index rose 0.3. The ratesensitive tech sector index added 1.6, while miners jumped 1.8 to a sevenweek high.

Industrial metal prices rose after the People39;s Bank of China PBOC lowered a shortterm lending rate for the first time in 10 months to prop up risk sentiment.

Chinaexposed luxury giant LVMH, also Europe39;s most valuable firm, rose 1.5.

Investors were also hopeful that U.S. inflation data later in the day would likely show an easing in prices in May, further adding to bets that the Fed would skip hiking rates in its policy decision on Wednesday.

What we are seeing is a reaction to growing expectations that the FOMC will pause with rate hikes this month even though it is too early to suggest yet that the rate hiking cycle has come to an end, said Stuart Cole, chief macro economist at Equiti Capital.

Traders see a near76 chance of the Fed holding rates at the 5.005.25 range on Wednesday, while pricing in a 56 chance of a rate hike in July, according to the CME FedWatch tool.

The European Central Bank will hold its policy meeting on Thursday, where it is…