European shares jumped on Wednesday to post their biggest daily gain in two months, buoyed by a set of strong fourth-quarter corporate earnings, while Volkswagen rose sharply on the possible listing of its luxury brand. Porsche AG.
The pan-European STOXX 600 index closed up 1.72% at 473.33 points. Automaker stocks led the gains, up 4.0%.
Volkswagen shares rose 6.1% and were among the ones that pulled the regional index up the most. The company’s biggest investor, holding Porsche SE, jumped 8.2%. The two companies were also top performers on the German stock index.
Traders cited a Reuters report that had raised hopes of a possible listing announcement by Porsche AG at Volkswagen’s annual March 15 press conference.
The European stock market as a whole was buoyed by optimism regarding the strong balance sheets of French fund manager Amundi and Norwegian Equinor.
- In London, the Financial Times index advanced 1.01%, to 7,643.42 points;
- In Frankfurt, the DAX index rose 1.57% to 15,482.01 points;
- In Paris, the CAC-40 index gained 1.46% to 7,130.88 points;
- In Milan, the Ftse/Mib index appreciated by 2.72%, at 27,128.99 points;
- In Madrid, the Ibex-35 index registered an increase of 1.98%, to 8,846.40 points;
- In Lisbon, the PSI20 index rose by 0.94%, to 5,696.59 points.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
