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The European Central Bank (ECB) purchased business bonds in euros for a second day as it broadened its stimulus program for the area’s flagging economy.
Purchases consisted of securities issued by German automaker Volkswagen due in 2019, those of tiremaker Continental AG and of French mobile business Orange SA, according to a person acquainted with the matter, who’s not authorized to discuss it and asked not to be recognized. The ECB purchased bonds from sectors including chemicals, infrastructure, cars and utilities, said two other individuals knowledgeable about the acquisitions.
