Automotive Industry Optimism Sees Shares Rising

Automotive sector stocks in Europe and Asia soared on April 2 following the release of positive data. Shares in BMW, Daimler and Renault jumped 14.5 per cent, 13.6 per cent, and 12.8 per cent, respectively, while shares in Michelin increased 14.4 per cent. Shares in Continental AG are said to have risen by a similar amount. Investors have been encouraged by US vehicle sales, which jumped by nearly 25 per cent last month from February.