Leading indices of European stock markets ended the session in green territory, following the stabilization of oil prices. Positive data on the development of the automotive sector in Europe also supported the trade, says CNBC
Data from the European Automobile Manufacturers Association (ACEA) showed growth in new car registrations by 13.7% in November. This is the 27th consecutive month of growth in the European automotive market.
The data supported the appreciation of the shares of the largest automotive companies in Europe. With a 1.75 percent raise the price of shares rocked by scandals Volkswagen, and trading was done at a price of 125.40 euros per share. ACEA data showed growth in registrations of new cars produced by the company, with just over 4 per cent.
With shares rose 4.3 percent to Fiat, while trading was done at a price of 12.37 euros per share. BMW’s shares reached a price of 94.69 euros per share, an increase of 3 percent.
The encouraging data returned positive mood of European investors and the value of the pan-European Stoxx Europe 600 rose 2.88% to 359.58 points. One of the best performing companies of the index is the Greek National Bank of Greece. Shares of the bank rose by 13% to a price of 0.285 euros per share.
The leading index of the London Stock Exchange – FTSE 100 surged 2.45% to 6 017.79 points.
With a 3.07 percent increase the value of the DAX, which closed the session at 10 450.38 points. The French CAC 40 also recorded a significant increase – within the 3.16 percent to 4 614.4 points.
Oil markets have stopped the free fall seen in recent days. The price of European Brent variety rose by almost 2% to 38.64 dollars a barrel, while US light crude oil rising by just over 3% to 37.43 dollars per barrel.
This backs shares of oil giants. Total record growth in its share price by 4.2% to 42.285 euros. About Shell increase in stocks is within 3.17% to 1 463.50 pounds per share