European auto stocks start November in the green

European markets started the new month on a positive note, with auto stocks surging 2% MoM (month-over-month). The pan-European Stoxx 600 rose 0.38%, the UK FTSE Index went up 0.2%, while Germany’s DAX and Italy’s FTSE MIB gained 0.7% each, and France’s CAC 40 jumped only 0.1%. Cryptopolitan reported late last month that the Stoxx 600 Index was up 0.2%, hitting an ATH of ￰0￱ Stoxx 600’s gain was attributed to increased activity in energy and consumer ￰1￱ FTSE 100 also grew by 0.7%, while financial and industrial stocks led the month’s rally, with Lifco reportedly surging over 10% to exceed Q3 ￰2￱ stock increased by 6.1%, the LSEG group rose by 5%, and NatWest jumped 4.9%.

European auto stocks perform comparatively better MoM in November Yahoo Finance showed that Renault surged 3.7% in early ￰3￱ French automaker’s Chief Growth Officer, Fabrice Cambolive, announced a global partnership with the Chinese company Geely, among other car manufacturers. Meanwhile, Nexperia resumed exporting chips to China, amid hopes of resolving semiconductor supply shortages, which boosted shares of Mercedes-Benz by 3.3% and Volkswagen by 2.8%. Stellantis also rose by 2.9%, BMW by 1.7% and Porsche by 1.6%. Other results are due this week, including Ferrari on ￰4￱ European Automobile Manufacturers’ Association (ACEA) recently reported that new car sales in Europe surged 10.7% in September, driven by strong growth in the German and UK ￰5￱ in Britain, the EU, and the European Free Trade Association increased to 1.23 million units, partly driven by the launch of new models.

However, a trade group representing EU automakers last week warned that some assembly lines will imminently face line stoppages, with some already experiencing partial supply issues. Europe’s manufacturers, including Mercedes-Benz, BMW, and Volkswagen, have recently confirmed that they have sufficient supply in the short term but are working to avoid potential production ￰6￱ and Volkswagen said on October 31 that their full-year financial guidance depends on the adequacy of semiconductor ￰7￱ analysts expect the news from both automakers to boost shares of EU auto-part suppliers and OEMs (Original Equipment Manufacturers). BP PLC boosts share price by 0.8% after selling ￰8￱ BP PLC reportedly sold $1.5 billion worth of U.

S. assets, boosting its share price by 0.8%. BP’s 1.7% climb boosted the UK’s energy sector after the company unveiled plans to sell stakes in Eagle Ford and Permian for $1.5 billion Other stocks, such as Nokia , rose 4.2% to extend their rally, while Vodafone Group dropped 2.6% following several ￰9￱ results are due this week from Vestas, Commerzbank, Diageo, Maersk, Rheinmetall, and ￰10￱ stocks reportedly traded steady on Monday amid a fresh wave of company earnings, including those from GTT and ￰11￱ shares rose 4.3%, although the broader oil and gas index gained 1.1%, while PostNL dropped 4% after reporting a quarterly operating loss. However, shares of Campari slid 4% following a probe into tax ￰12￱ tax police seized shares worth $1.5 billion (€1.29B) from a holding company based in Luxembourg.

Meanwhile, the first week of November also began with Ryanair shares shedding 2% despite a 13% rise in H1 revenue to €9.82 ￰13￱ low-cost airline earned $1.98 billion (€1.72B) in Q2, meeting market expectations with a 42% increase that reportedly aligned with ￰14￱ is reportedly expected to be a stock market ￰15￱ month is also known to historically deliver some of the most substantial stock market returns in any ￰16￱ discretionary stocks are also expected to shine as holiday spending increases. Historically, the month of November has seen average returns of around 3.14% in nearly 80% of ￰17￱ your strategy with mentorship + daily ideas - 30 days free access to our trading program