LONDON Jan 13 European shares advanced in early
trading on Monday, led higher by automobile stocks, with
Britain's benchmark equity index setting an all-time high and on
track for a record 14th straight session of gains.
Shares in Fiat Chrysler Automobiles rose 6
percent, recouping some of the previous session's 16 percent
slump triggered by the U.S. Environmental Protection Agency's
(EPA) accusations that the car maker illegally masked excess
However, its CEO Sergio Marchionne told La Repubblica
newspaper on Friday that the EPA's accusations that Fiat
violated emissions laws will not have any impact on the
carmaker's business plan targets.
Italian stocks dominated the list of top performers on the
STOXX with UBI Banca up 7.6 percent and Exor
up more than 6 percent.
Meanwhile, shares of French media company Technicolor
were on track on their worst-ever one-day loss after a
profit warning wiped out nearly a fifth of their value.
Britain's blue-chip FTSE 100 index set another
record high of 7,329.29 points and was last quoted 0.4 percent
higher. It was also on track for its sixth straight weekly gain.
The pan-European STOXX 600 was also up 0.5 percent,
led higher by the automobile index, up 1.6 percent.
(Reporting by Atul Prakash, Editing by Vikram Subhedar)