Car makers help European shares rise for 7th straight day

miércoles 2 de abril de 2014 06:54 GYT

* FTSEurofirst 300 up 0.2 pct, Euro STOXX 50 up 0.1 pct

* Auto makers help indexes stretch rise into 7th session

* Deutsche Post boosted by strong outlook

* ADP data disappointment would cause volatility - SocGen

By Francesco Canepa

LONDON, April 2 (Reuters) - European shares looked set to stretch their winning streak into a seventh straight day on Wednesday as U.S. car sales data boosted auto stocks and underpinned optimism about demand from Europe's largest trading partner.

The STOXX Europe 600 Auto & Parts index rose 0.7 percent after data showed car makers reported a 5.7 percent annual rise in U.S. sales in March, which could help them offset still muted demand in Europe.

Sports-car maker Porsche, which saw its U.S. sales rise 9.2 percent in March, added 1.5 percent. BMW , which derives 17 percent of its revenue from the United States, its largest market, rose 1.4 percent after reporting a 7.9 percent increase in U.S. sales.

"With better U.S. sales you can compensate for weaker sales in Europe," said Michael Punzet, auto analyst at DZ Bank. "Clearly the premium manufacturers like BMW, Mercedes, Audi and Porsche are best positioned to benefit from the U.S."   Continuación...