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Europe: Stocks hit six-month high as automakers, insurers gain

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[BENGALURU] European shares hit their highest in half a year on Tuesday, buoyed by autos and insurance stocks and gains among export-heavy London stocks as Brexit uncertainty weakened the pound. Read more at The Business Times.

[BENGALURU] European shares hit their highest in half a year on Tuesday, buoyed by autos and insurance stocks and gains among export-heavy London stocks as Brexit uncertainty weakened the pound.

The index of automakers and parts suppliers rose 1.3 per cent, building on Monday's 3.3 per cent gain which came after unexpectedly strong Chinese factory data.German auto parts supplier Continental AG climbed 2.3 per cent, and said it was sticking to plans list its powertrain division.Tyre-maker Pirelli rose 2.9 per cent after the Italian firm said it saw a 107 million euros first-half boost from Brazilian tax credits.

European banks rose 0.7 per cent, with Swedbank AB jumping 6.1 per cent in its best one-day showing in more than six years.

 

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