Shares of industrial and transportation companies rose as investors rotated into economically cyclical sectors from more evergreen areas such as technology.
Danish shipping firm A.P. Moeller-Maersk accelerated its share buyback program and launched a new program of up to 31 billion Danish kroner as rising demand and freight rates have propelled the company's earnings and cash flow higher.
European auto giant Stellantis is exiting an agreement to purchase European emissions credits from electric-car maker Tesla, saying it no longer needed the credits. The auto maker, created earlier this year when Fiat Chrysler Automobiles and PSA Group merged, spent roughly $362 million on European regulatory credits in 2020.
German postal operator and DHL owner Deutsche Post said strong momentum in global e-commerce and a rebound in international trade generated robust first-quarter earnings growth.
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(END) Dow Jones Newswires