US shares of Volkswagen rise after WSJ report on negotiations on shareholding in Porsche

US listed shares of Volkswagen AG VWAGY,
+ 2.91%
VOTE,
+ 3.02%
advanced 2.6% in record territory on Thursday, after the Wall Street Journal reported that the German-based carmaker was in early debates over the list of a minority stake in its Porsche subsidiary. Porsche Automobile Holding SE shares in the US POAHY,
+ 4.67%
PAH3,
+ 5.15%
increased 4.2% to a 13-month high. Citing people who were familiar with the matter, the WSJ report said that while discussions about a listing have resurfaced in disarray for several years, they have recently taken on a new quality. If a listing is produced, it may not be produced until next year, according to the WSJ report. Shares of Volkswagen have risen 17.6% in the last three months and shares of Porsche have risen 11.6%, while the EWG ETF of iShares MSCI Germany,
-0.02%
gained 8.2% and the S&P 500 SPX,
-0.69%
has advanced 9.2%.