Valeo up as US lowers tariffs on South Korea, BYD posts better-than-expected sales

Valeo SE

02/12/2025 10:11

** Shares in French car parts supplier Valeo VLOF.PA rise 2.6% after the U.S. announced lower tariffs on South Korea and Chinese automaker BYD posted better-than-expected sales

** U.S. commerce secretary on Monday confirmed that the tariff rate on imports from South Korea would drop to 15%, retroactive to November 1

** "For Valeo ... it is more the supply of electronics that is particularly important," TP ICAP Midcap analyst told Reuters

** He adds the slightly better-than-expected new car sales in China of BYD 002594.SZ, Valeo's client and partner, also added to the market reaction

** Shares in Valeo are on track for their best day since November 3 if the gains hold

(Reporting by Mathias de Rozario in Gdansk)

((mathias.derozario@thomsonreuters.com))