2023-05-18 08:05:00
Automotive and technology stocks rise in the Stoxx 600 index
European stocks started trading today, Thursday, with a rise, reflecting a sense of optimism on Wall Street, once morest the backdrop of indications that Washington is close to reaching an agreement on raising the US debt ceiling and avoiding default.
And by 07:08 GMT, the European Stoxx 600 index rose 0.4%, with auto and technology shares leading the gains.
US stocks rose yesterday, Wednesday, following President Joe Biden and Republican House Speaker Kevin McCarthy confirmed their intention to reach an agreement soon to raise the debt ceiling and avoid a catastrophic economic slump, according to Archyde.com.
“Volkswagen” shares rose 2.6%, driven by the automaker’s plans to renew its core brand with the aim of increasing efficiency and returns. The stock was the biggest gainer on the German DAX index, which rose 0.9% to its highest level in 18 months.
Shares in “Deutsche Bank” AG fell 1.3% following it agreed to pay $ 75 million to settle a lawsuit filed by women who said they were subjected to sexual abuse at the hands of the late businessman Jeffrey Epstein, and accused the German bank of facilitating sex trafficking.
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