Paccar (PCAR +4.5%) trades higher after Scania's (SVKBY.PK) CEO said yesterday that the European...

|By:, SA News Editor

Paccar (PCAR +4.5%) trades higher after Scania's (SVKBY.PK) CEO said yesterday that the European truck market has bottomed out. Europe's struggling truck market has been weighing on Paccar, which slashed 2012 European sales forecasts two weeks ago. Its DAF truck brand is a major player in the European market, and more than one-third of its 2011 sales came from Europe .