Volkswagen shares in the United States rise after WSJ report on negotiations to list minority stake in Porsche

The US listed shares of Volkswagen AG VWAGY,
+ 2.91%
OATH,
+ 3.02%
rose 2.6% in record territory on Thursday’s midday trading session after The Wall Street Journal reported that the German automaker was in the first discussions about listing a minority stake in its Porsche subsidiary. American shares of Porsche Automobil Holding SE, POAHY,
+ 4.67%
PAH3,
+ 5.15%
increased 4.2% towards a 13-month high. Citing people familiar with the matter, the WSJ report said that while discussions on a list have resurfaced for several years, they have acquired a new quality recently. If a listing occurs, it may not happen until next year, the WSJ report said. Volkswagen shares rose 17.6% in the last three months and Porsche shares rose 11.6%, while iShares MSCI Germany ETF EWG,
-0.05%
gained 8.2% and the S&P 500 SPX,
-0.73%
advanced 9.2%.