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June 1, 2021, 11:42 a.m. EDT

European equities close at record high as value stocks continue to thrive

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By Steve Goldstein

European stocks rose on the first day of June to new heights, with mining, oil and bank shares advancing.

The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +0.07% rose 0.8% to close at a fresh record high.

The U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.25% also rose 0.8%, after a three-day break.

The gains came with crude-oil futures /zigman2/quotes/211629951/delayed CL.1 -0.21% reaching the highest level in more than two years, ahead of the OPEC+ production meeting. Eurostat reported that May consumer prices rose 2% year-over-year, due to rising energy prices.

The Stoxx Europe 600 rose 2% in May, its fourth consecutive monthly rise. By style, value had the best May, with the S&P Europe 350 enhanced value index rising 5%.

Of stocks in the spotlight, Porsche Automobil Holding /zigman2/quotes/202769371/delayed XE:PAH3 +4.73% rose 5%, as speculation continued that the luxury automobile maker would be separately listed. Porsche Automobil Holdings holds 53% of Volkswagen /zigman2/quotes/203434344/delayed XE:VOW3 +4.67% , which controls Porsche AG, the company that makes the Porsche 911 sports car.

CD Projekt /zigman2/quotes/206478470/delayed PL:CDR +1.58% shares tumbled 9%, as the Warsaw-listed videogame maker reported a worse-than-forecast 65% drop in profit, weighed down by the troubled launch of “Cyberpunk 2077,” which currently is being blocked from the Sony PlayStation store due to bugs.

/zigman2/quotes/210599654/delayed
XX : STOXX
472.21
+0.33 +0.07%
Volume: 0.00
Oct. 25, 2021 5:50p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,222.82
+18.27 +0.25%
Volume: 496,731
Oct. 25, 2021 4:58p
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/zigman2/quotes/211629951/delayed
US : U.S.: Nymex
$ 83.58
-0.18 -0.21%
Volume: 545,412
Oct. 25, 2021 3:30p
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/zigman2/quotes/202769371/delayed
XE : Germany: Xetra
92.58
+4.18 +4.73%
Volume: 860,093
Oct. 25, 2021 6:30p
P/E Ratio
5.23
Dividend Yield
2.39%
Market Cap
€27.07 billion
Rev. per Employee
€116,812
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/zigman2/quotes/203434344/delayed
XE : Germany: Xetra
205.25
+9.15 +4.67%
Volume: 1.77M
Oct. 25, 2021 6:30p
P/E Ratio
5.83
Dividend Yield
2.37%
Market Cap
€122.53 billion
Rev. per Employee
€336,391
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/zigman2/quotes/206478470/delayed
PL : Poland: Warsaw
187.20
+2.92 +1.58%
Volume: 222,791
Oct. 25, 2021 5:51p
P/E Ratio
16.91
Dividend Yield
2.67%
Market Cap
zł18.56 billion
Rev. per Employee
N/A
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