The European STOXX 600 index edged 0.2% higher with the insurance and mining sectors spurring the biggest gains. The index has moved only marginal amounts this past month as investors continue to closely monitor how the European Central Bank proceeds with its interest rate hiking campaign in an effort to tame inflation.

“As tighter financial conditions bite, we expect most major advanced economies to slip into recession and wage and price pressures to cool,” Neil Shearing, group chief economist at Capital Economics said with regard to the ongoing inflation issue.

Spanish regional bank BBVA, among those with the largest exposure to Turkey, slipped 3.2% after the country’s election appeared to head into a runoff.

In contrast, Siemens Energy AG gained 3.2%. The company raised its sales outlook after its order backlog hit a record 102 billion euros ($112.28 billion). AXA, Europe’s second-largest insurance company, gained 2.7% after it reported a first-quarter sales growth of 2%.

The post European Stocks Rise as Investors Await Economic Data appeared first on theprimarymarket.com.

“With our additional investment in Electrify America, we are giving e-mobility in North America a further boost,” Thomas Schmall, head of VW components group, said while announcing the deal.

The investment, which brings Electrify America’s valuation to $2.45 billion, gives Siemens a 10 percent stake in the company as well as a seat on the board, according to Bloomberg.

Volkswagen has been recently looking for an investor in an attempt to increase Electrify America’s network. The company currently has around 800 stations with 3,500 fast-charging ports across North America and plans to more than double that number until 2026. Volkswagen hopes to attract $1 billion in investments to reach this goal.

Siemens, who is the first external investor in Electrify America, has been ramping up its involvement in electric cars infrastructure. Back in March, Siemens announced a $54 million investment in sites in Texas and California that develop “electrical equipment for critical infrastructure systems including EV charging.” It also invested $25 million earlier this month to acquire a minority stake in wireless charging technology company WiTricity.

The post Siemens Buys into Volkswagen’s EV Charging Stations Electrify America appeared first on theprimarymarket.com.

The European STOXX 600 index edged 0.2% higher with the insurance and mining sectors spurring the biggest gains. The index has moved only marginal amounts this past month as investors continue to closely monitor how the European Central Bank proceeds with its interest rate hiking campaign in an effort to tame inflation.

“As tighter financial conditions bite, we expect most major advanced economies to slip into recession and wage and price pressures to cool,” Neil Shearing, group chief economist at Capital Economics said with regard to the ongoing inflation issue.

Spanish regional bank BBVA, among those with the largest exposure to Turkey, slipped 3.2% after the country’s election appeared to head into a runoff.

In contrast, Siemens Energy AG gained 3.2%. The company raised its sales outlook after its order backlog hit a record 102 billion euros ($112.28 billion). AXA, Europe’s second-largest insurance company, gained 2.7% after it reported a first-quarter sales growth of 2%.

The post European Stocks Rise as Investors Await Economic Data appeared first on theprimarymarket.com.

“With our additional investment in Electrify America, we are giving e-mobility in North America a further boost,” Thomas Schmall, head of VW components group, said while announcing the deal.

The investment, which brings Electrify America’s valuation to $2.45 billion, gives Siemens a 10 percent stake in the company as well as a seat on the board, according to Bloomberg.

Volkswagen has been recently looking for an investor in an attempt to increase Electrify America’s network. The company currently has around 800 stations with 3,500 fast-charging ports across North America and plans to more than double that number until 2026. Volkswagen hopes to attract $1 billion in investments to reach this goal.

Siemens, who is the first external investor in Electrify America, has been ramping up its involvement in electric cars infrastructure. Back in March, Siemens announced a $54 million investment in sites in Texas and California that develop “electrical equipment for critical infrastructure systems including EV charging.” It also invested $25 million earlier this month to acquire a minority stake in wireless charging technology company WiTricity.

The post Siemens Buys into Volkswagen’s EV Charging Stations Electrify America appeared first on theprimarymarket.com.