European car stocks surge on renewed hopes of delay to U.S. tariffs

Written by on May 15, 2019

The German share price index DAX graph at the stock exchange in Frankfurt
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, May 13, 2019. REUTERS/Staff

May 15, 2019

LONDON (Reuters) – European autos stocks surged on Wednesday after Bloomberg reported, citing sources, that U.S. President Donald Trump plans to delay imposing threatened tariffs on car imports as the White House focuses on its spat with China.

Europe’s autos and suppliers index jumped, up as much as 2.2%, after the report which follows a Reuters report last week that automakers expect Trump to delay his decision on car tariffs for up to six months.

Germany’s DAX, home to the region’s biggest carmakers, jumped on the news, up as much as 0.7%. The pan-European STOXX 600 rose briefly into positive territory before giving back gains.

(Reporting by Helen Reid, Editing by Josephine Mason)

Source: OANN

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