Fed meeting eyed later in the day
Entain to buy Polandbased betting operator for 946 mln
Logitech slides after CEO exit
Grifols surges on plan to reduce stake in Shanghai RAAS

June 14 Reuters European shares rose on Wednesday, ahead of a broadly pricedin pause in interest rate hikes by the U.S. Federal Reserve, while Entain shares fell sharply after announcing a deal.

The panEuropean STOXX 600 index rose 0.3, with the travel leisure index falling 0.8.

Ladbrokesowner Entain plunged 10.1, falling to the bottom of the STOXX 600 after it said on Tuesday it will buy Polandbased sports betting operator STS Holdings for 750 million pounds 946 million,

Traders have all but fully baked in the Fed holding rates at the 5.005.25 range later in the day, while giving it a 63 chance of a rate hike in July, according to the CME FedWatch tool.

U.S. inflation data on Tuesday further helped cement bets for a pause in tightening as price pressures showed signs of moderating in May.

The U.S. central bank will release its policy statement at 2 p.m. EDT 1800 GMT, followed by Fed Chair Jerome Powell39;s press conference half an hour later.

Today the focus would be on the Fed and Powell39;s press conference. We expect the Fed to pause but leave the door wide open for a July hike, Jefferies strategist Mohit Kumar said.

The European Central Bank will hold its policy meeting on Thursday, where it is expected to hike rates by another 25 basis points to tame stubborn inflation.

Bank…