European Stock Market Climbs as BMW Profits Signal Economic Recovery in 2002

BMW shows 2001 operating profit, as did DaimlerChrysler and Porsche, signaling possible European recovery in 2002.

Published: 28-Jan-2002

LONDON, Jan 28 (Reuters) - European markets were higher by midsession on Monday after strong German economic data boosted the oil and banking sectors which are sensitive to prospects of an economic recovery.

BMW (BMWG.DE) was a positive feature after the German luxury carmaker said earnings in its automobiles segment rose year-on-year.

At 1225 GMT, the Eurotop 300 index <.FTEU3> was up 1.11 percent, while the narrower Euro Stoxx 50 index <.STOXX50E> had gained 1.14 percent.

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