Carmakers put European stocks on road to record-high close | Malay Mail

FRANKFURT, Jan 6 ― Automobile stocks helped drive European shares to new highs yesterday, even as a new year rally appeared to be running out of gas due to concerns over Covid-19 and slowing growth.

The European automobile subindex was the best performer, jumping 2.7 per cent to a record high as investors expected production to roar back from a semiconductor shortage, with car sales also likely to improve.But JPMorgan took a cautious stance for the sector in 2022, citing consumer uncertainty over electric vehicles in Europe.

Mining stocks rose 1.6 per cent, tracking stronger commodity prices as investors bet that demand would recover from a Covid-induced lull. “There are wobbles in the global equity markets on the back of higher back-end US Treasury yields and concerns about the Chinese tech sector,” Sebastien Galy, senior macro strategist at Nordea Asset Management, said.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European stocks advance at open | Malay MailLONDON, Jan 4 — Europe’s main stock markets jumped at the open today following a strong start to 2022 for Tokyo and Wall Street. London’s benchmark FTSE 100 index rallied 1.0 per cent to 7,460.59 points as it kicked off its first trading day of the year. Frankfurt’s DAX index climbed 0.3...
Source: malaymail - 🏆 1. / 86 Read more »

Tokyo stocks close higher on bargain hunting | Malay MailTOKYO, Jan 5 ― Tokyo stocks ended with gains today as investors sought bargains while digesting the impact of a cheaper yen. The Nikkei 225 added 0.10 per cent, or 30.37 points, to 29,332.16, while the broader Topix index rose 0.45 per cent, or 9.05 points, at 2,039.27. The dollar stood at...
Source: malaymail - 🏆 1. / 86 Read more »