European shares rebound from 4-day rout as carmakers rally | Fin24
 
  • Solly Moeng

    Give business owners a reason to stay in South Africa.

  • Pravin Gordhan

    The minister says SA is paying more for electricity because of theft at Medupi and Kusile.

  • Keep Flying the Flag

    The ANC says the state must keep a 'restructured' SAA as a national airline.

Loading...

European shares rebound from 4-day rout as carmakers rally

Jan 12 2016 10:57
Alan Soughley and Sofia Horta e Costa

Frankfurt - European stocks rose as automakers gained and investors assessed valuations after the region’s equity benchmark posted a four-day losing streak.

Auto-related companies recorded the best performance of the 19 industry groups on the Stoxx Europe 600 Index. Rio Tinto Group and BHP Billiton dragged a gauge of miners to its lowest level since October 2003 as commodity prices slipped.

A measure of energy stocks slid as oil extended declines from the lowest close in more than 12 years.

The Stoxx 600 rose 0.4% to 341.48 at 8:23 a.m. in London. The European equity benchmark ended a volatile session yesterday at its lowest level since September. Germany’s DAX Index, which relies heavily on exporters including carmakers, recovered 0.6% today, paring its loss this year to 8%.

Among stocks moving on corporate news, Debenhams jumped 16% after the British retailer reported 19-week holiday sales that exceeded analysts’ projections. Wm Morrison Supermarkets rose 12% as the supermarket chain unexpectedly snapped a four-year record of declining sales.

Michael Page International Plc dropped 5.1% after saying profit growth slowed at its UK unit.

european markets  |  equities  |  markets
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

How concerned are you about ransomware attacks?

Previous results · Suggest a vote

Loading...