FRANKFURT (dpa-AFX) - In a generally favorable market environment for automotive stocks, BMW shares performed well on Tuesday. They extended their gains to 1.9 percent in the afternoon following the announcement of share buybacks. In early trading, they had marked their lowest level in over two weeks.
With these gains, BMW shares outperformed the other three carmakers, Volkswagen, Mercedes-Benz, and Porsche AG, which rose between 0.6 and 1.4 percent. The leading index, the DAX, gained about half a percent.
BMW plans to invest up to two billion euros in share buybacks. The majority of this amount is to be allocated to DAX-listed ordinary shares by the end of April 2027 at the latest, with a maximum of 350 million euros going to preferred shares. Last week, the Annual General Meeting gave the green light for further purchases. /tih/jha/
