Shares in luxury carmaker Porsche AG rose on their first day of public trading
after the 9.4 billion euro ($9.1 billion) IPO by Volkswagen's German parent company, one of the biggest in European history.
Shares traded at 85.68 euros on the Frankfurt Stock Exchange on Thursday,
above the original selling price of 82.50 euros announced Wednesday as Volkswagen lined up investors to acquire shares for a minority interest in the producer of the 911 sports car and Cayenne SUV.
Volkswagen aims to use utilise the money to invest in software and electric vehicles the global auto sector changes its attention to the energy transition.
rising interest rates and a global energy crunch have raised fears of recession in major economies
such as Europe and the U.S. Europe's Stoxx 600 index last week fell into bear market territory.