FRANKFURT (dpa-AFX) - Europe's stock markets continued their year-end rally on Wednesday. In addition to real estate stocks, automotive stocks were also very popular with investors. Forvia (formerly Faurecia) saw price gains of up to 3.5 percent. BMW also posted above-average gains of 3 percent.

A major automotive study by JPMorgan analyst Jose Asumendi left its mark here. He had downgraded Nokian and recommended BMW. According to Asumendi, the Munich-based company shone with the strongest growth in the premium segment. Meanwhile, the shares of the Finnish tire manufacturer Nokian, which are not listed in the sector index, fell.

Meanwhile, the analyst removed his positive rating for VW and only voted "Neutral". Although the shares rose 1.8 percent in the strong DAX, they lagged behind BMW and Mercedes. The restructuring of the Wolfsburg-based company is taking longer than initially thought. 2024 will probably be another year of transition./ag/mis