EUROPE REPORT: Eurostoxx 50: 2,480.79 (+31.51) Paris CAC: 3,297.80 (+50.32) Frankfurt DAX: 4,779.11 (+63.23)EUROPEAN STOCKS rose for a second day as optimism that stimulus plans will boost the global economy lifted retailers and automakers, while investor confidence in Germany unexpectedly improved.
PPR, owner of the Gucci luxury-goods brand, and Daimler, the world's second-largest maker of luxury cars, jumped more than 4 per cent.
Yara International climbed 9.2 per cent after the biggest fertiliser maker said it expects strong results this year.
Q-Cells SE sank 19 per cent as the solar company reduced its profit forecasts for 2008 and 2009.
PPRled retail shares higher yesterday, rallying 12 per cent to €40.91. Home Retail Group, owner of Britain's Argos stores, jumped 5.9 per cent to 241 pence. Carrefour, Europe's biggest retailer, added 4 per cent to €30.13.
LVMH Moet Hennessy Louis Vuitton, the world's largest maker of luxury goods, jumped 6.6 per cent to €48.81.
Carmaker Daimlerrose 4.4 per cent to €25.67, pacing gains among automakers.
Renault, France's second-largest carmaker, increased 2.2 per cent to €18.25. Fiat, Italy's biggest, climbed 4.8 per cent to €5.63.
Yaraclimbed 9.2 per cent to 119 kroner. The company said it expects to deliver strong results this year as the economic slowdown forces the company to take measures to counter lower fertiliser sales.
Imperial Energyjumped 18 per cent to 1,002 pence after the UK-based explorer operating in Siberia confirmed that Oil Natural Gas Corp will go ahead with its bid priced at 1,250 pence a share in cash, the same amount it offered in August.
Q-Cellssank 19 per cent to €22.22. The world's largest maker of solar cells said net income for 2008 will be €185 million ($237 million) as weakening demand caused customers to postpone deliveries. That's down from an earlier prediction of €215 million.
Renewable Energy,the biggest producer of polysilicon used in solar panels, tumbled 10 per cent to 59.7 kroner.
Infineon Technologies, Europe's second-largest semiconductor maker, declined 11 per cent to 79 cent. - (Bloomberg)
