Shares of manufacturing and transportation companies ticked up amid optimism about global growth, and, particularly, European growth.
The euro soared after the European Central Bank upgraded its economic outlook and after revised European Union statistics showed that second-quarter growth in the eurozone was 2.3% in the second quarter on an annual basis, the fastest rate of growth recorded since the first three months of 2011.
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General Electric shares hit the lowest level since 2015 after analysts at brokerage JPMorgan doubled down on their bearish view of the company's prospects, saying the company could see weakness in its power unit and not see much of a rebound in oil-and-gas or transportation branches of the business. Separately, GE sold the last of its stake in Penske Truck Leasing to Penske Automotive and a Mitsui & Co. unit for $674 million.
Rob Curran, email@example.com
(END) Dow Jones Newswires
September 07, 2017 17:21 ET (21:21 GMT)