European Stocks Advance on Day of Ups and Downs as Autos Climb
- Auto-related shares post biggest advance on Stoxx 600
- German exports miss estimates, decline most since January 2009
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On a day when Europe’s equity benchmark swung between gains and losses at least 25 times, an advance in carmakers helped it close higher.
Auto-related shares posted the best performance of the 19 industry groups on the Stoxx Europe 600 Index, rising for a fourth day. Daimler AG added 1.2 percent. Fiat Chrysler Automobiles NV rose 3.9 percent after reaching a tentative agreement with the United Auto Workers union in the U.S. to avert a strike. Credit Suisse Group AG led banks lower, sliding 3.6 percent after the Financial Times reported that the Swiss lender is preparing a substantial capital raising plan.