Earnings in the roles of automakers took the actions europeans the new record high on Wednesday (5), even as the year-end rally seems to have lost steam due to concerns about Covid-19 and a slowdown in economic growth.
The pan-European STOXX 600 index closed up 0.07% at 494.35 points, posting its third record high for a consecutive close.
But its recent gains appear to be running out of steam amid concerns over the Ômicron variant coronavirus, interest rate increases, and mixed economic data.
The European auto sub-index was the best performer among its peers, jumping 2.7% to a record high as investors expect production to rebound from semiconductor shortages, with auto sales also likely to improve.
German BMW gained 2.2% after registering record sales of its BMW brand in 2021.
However, the JPMorgan took a cautious stance on the sector in 2022, citing consumer uncertainty about electric vehicles in Europe.
Renault jumped 5.3% to the top of the French CAC 40 index after the Qualcomm announced deals to supply chips to automakers, including the French company.
Mining stocks rose 1.6%, following higher commodity prices as investors bet demand will rebound from an oil-induced lull. Covid-19.
Other economically sensitive sectors also gained, with banks up 0.2% on expectations of higher interest rates.
Tech stocks, meanwhile, fell 0.5%.
In London, the Financial Times index advanced 0.16%, to 7,516.87 points. In Frankfurt, the DAX index rose 0.74%, to 16,271.75 points.
The CAC-40 index, in Paris, gained 0.81%, to 7,376.37 points, while the Ftse/Mib index, in Milan, gained 0.74%, to 28,162.67 points.
In Madrid, the Ibex-35 index dropped 0.06%, to 8,790.80 points, and in Lisbon, the PSI20 index dropped 0.31%, to 5,652.68 points.
Reference: CNN Brasil
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