0825 GMT - European automotive stocks trade higher after Japanese peers Honda Motor and Nissan Motor confirmed they are exploring a merger. France's Renault, which owns a big stake in Nissan, leads the way, with shares rising 5.9%. A potential combination of Honda and Nissan has mostly positive implications for Renault as it gives it a number of benefits and strategic options, Jefferies analysts say in a note. Shares in car-parts suppliers Forvia and Valeo are up 1% or more, while carmakers Volkswagen, Stellantis, BMW and Mercedes-Benz all trade higher but record smaller gains. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
December 18, 2024 03:25 ET (08:25 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Comments