Major carmakers Volkswagen and Porsche SE were among Germany’s top gainers after reports of a possible listing of the luxury Porsche AG division, Reuters reported.

  • Shares in Volkswagen grew by as much as 7.2%, while those in Porsche SE gained as much as 8.3%. Porsche SE currently owns a 31.4% stake in Volkswagen.
  • The growth made both firms the top two gainers in Germany’s benchmark DAX index, with both outperforming the STOXX Europe 600 Automobiles & Parts Index, which recorded a 3.7% growth.
  • The jump was attributed to the reported planned listing of Porsche AG, which could be announced during Volkwagen’s annual press conference scheduled next month.

Both Volkswagen and Porsche SE have yet to comment on the matter, with the potential listing still being weighed. VWAGY is up 5.35%, POAHY up 9.07%, and DAX up 1.51%.