U.S. stocks closed mostly higher on Wednesday as investors took escalating trade tensions in stride to instead focus on improving economic fundamentals, even as a weak technology sector hobbled the Nasdaq. The Dow Jones Industrial Average climbed 158.80 points, or 0.6%, to 26,405.76, and the S&P 500 rose by 3.64 points, or 0.1%, to 2,907.95. Financials were the best performing stocks, rallying 1.8% as the 10-year Treasury yield increased to 3.081%. On the other hand, the Nasdaq Composite Index declined by 6.07 points to 7,950.04.

Europe’s main stock gauge finished higher on Wednesday, mainly attributable to gains in the materials and chemicals sectors. The Stoxx Europe 600 climbed 0.3% to close at 379.98, in a week that has delivered a 0.6% rise so far. Germany’s DAX 30 closed 0.5% higher at 12,219.02, while France’s CAC 40 added 0.6% to end at 5,393.74. The U.K.’s FTSE 100 finished 0.4% higher at 7,330.11.

Aston Martin Seeks to Pass Ferrari

Aston Martin filed for an IPO in London that would value the maker of luxury sports cars as high as £ 5.1 billion ($ 6.7 billion), seeking a multiple that would approach rival Ferrari NV. The company will sell a 25% stake at between £ 17.50 and £ 22.50 pounds per share, it said Thursday in a statement. Furthermore, trading will start on the London Stock Exchange in October.

One question is whether a niche manufacturer like Aston Martin can deliver for investors like Ferrari, which trades at about 20.5 times its expected adjusted Ebitda for 2018, according to Bloomberg data. The company’s first SUV is coming out in 2020, giving it access to the Chinese market and a head start over Ferrari, which this week postponed its Purosangue SUV to 2022, Palmer said. Luxury carmakers are crowding into sport utility vehicles to capture high profit margins that will fund initiatives such as electrification.

Sky take-over left to auction

Britain’s takeover regulator has taken the rare step of settling the battle for European broadcaster Sky Plc through an auction procedure after competing bids from Comcast and Twenty-First Century Fox remained in place. Comcast currently leads Fox in the fight with a 14.75 pound a share offer that values the broadcaster at 25.9 billion pounds ($34.2 billion) and has been recommended by the pay-television group’s independent directors.

Sky is at center of a bidding battle between Rupert Murdoch’s Fox, which already owns 39 percent of it, and U.S. cable giant Comcast. In the first round of the auction, the offeror with the lowest offer at the start of the process can may make a higher bid and the other suitor can do so in the next round. If the auction goes on, both offerors may make an increased bid.