Continental Rebounds as Moody’s Raises Rating: Frankfurt Mover
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Continental AG, Europe’s second-largest auto-parts maker, snapped four days of losses in Frankfurt trading as Moody’s Investors Service upgraded its ratings on the company’s debt one level to Ba2 from Ba3.
Continental shares rose as much 1.8 percent and were up 1.7 percent at 77.04 euros as of 11:38 a.m. local time after retreating 9.4 percent in the first four days of trading this week. The stock has gained 60 percent this year, valuing Hanover, Germany-based Continental at 17 billion euros ($21.9 billion.)