Shares in Volkswagen and its top investor rise on Porsche listing hopes

FRANKFURT, Feb 9 (Reuters) – Hopes for more clarity around a possible listing of Volkswagen’s (VOWG_p.DE) luxury Porsche AG division lifted shares in Europe’s largest carmaker and its top shareholder on Wednesday, traders said.

Volkswagen shares rose as much as 7.2% while those in Porsche SE (PSHG_p.DE), which holds a 31.4% stake in the carmaker, were up as much as 8.3%, taking the top two spots in Germany’s benchmark blue-chip DAX index (.GDAXI).

They also outperformed a 3.7% gain in the STOXX Europe 600 Automobiles & Parts Index (.SXAP).

Traders pointed to a Reuters story fuelling hopes there could be news on a potential listing of Porsche AG at Volkswagen’s annual press conference scheduled for March 15.

“That’s when management will hopefully show their colours,” a company source familiar with the deliberations about a listing told Reuters earlier.

Volkswagen and Porsche SE, which will holds its annual news conference on March 29, declined to comment.

Volkswagen is still considering a potential partial listing of Porsche AG and has not made a decision, according to people familiar with the matter.

Sources told Reuters last year the Porsche and Piech families, who control Porsche SE, were weighing taking a direct stake in Porsche AG as part of a possible listing of the luxury carmaker.

Reporting by Jan Schwartz in Hamburg, Christoph Steitz and Anika Ross in Frankfurt and Danilo Masoni in London Editing by Mark Potter