European carmakers rise on hopes for tariffs relief
10/04/2025 10:03
Updates throughout, adds analyst comment ** Shares in European automakers rise on hopes the sector will also be included in a potential deal or pause on U.S. tariffs, after U.S. President Donald Trump granted temporary reprieve for many countries ** Trump's temporary pause, however, does not appear to affect duties on autos that are already in place ** The pan-European STOXX automobiles & parts index .SXAP rises 5.4%, on track for its biggest one-day rise since July 2022 ** "I think the initial positive reaction is due to the hope that the market now has, either for a potential deal or for the pause to be extended to the automotive sector as well," Pal Skirta from Metzler says ** Skirta says the market now seems to see a higher chance of negotiating an amicable solution with the U.S. ** "This fuels the belief that a deal may be possible," he adds ** Porsche Holding PSHG_p.DE, Volkswagen VOWG_p.DE, Porsche AG P911_p.de, BMW BMWG.DE, Mercedes-Benz MBGn.DE rise between 5.8% and 10.4% ** Renault RENA.PA, Volvo Car VOLCARb.ST are up 4.4%-7.3%, Stellantis STLAM.MI jumps 9.1% ** Auto parts makers and suppliers Continental CONG.DE, Valeo VLOF.PA and Forvia FRVIA.PA rise 4.8%-12.3%, German truckmaker Daimler Truck DTGGe.DE is up 7% (Reporting by Ozan Ergenay) ((ozan.ergenay@thomsonreuters.com))