European markets rise, led by automakers
The European markets rose for the first time in four days on Wednesday, as automotive stocks rallied on news of the approval of plans to raise the funds available for subsidies to German car buyers and the launch of auto supplier support programs by U.S. automakers General Motors and Chrysler. German Chancellor Angela Merkel's cabinet today approved plans to raise the funds available for subsidies to buyers of new low-emission vehicles who scrap their old cars to €5 billion euros this year.
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