Hopes for an easing of tensions in the impending car tariff dispute with the incoming US government under Donald Trump provided further impetus for the auto sector on Monday.
The Stoxx Europe 600 Automobiles & Parts moved past the tech sector to the top of the industry table with an increase of 3.2 percent at times.
In the DAX, the shares of Volkswagen (VW), Mercedes-Benz, the supplier Continental and BMW are among the most sought-after stocks. VW shares temporarily rose by 3.66 percent to 90.00 euros via rise to 66.34 euros and BMW shares temporarily gained 5.47 percent to 80.60 euros. The shares of the sports car manufacturer Porsche temporarily rose by 6.28 percent to 60.90 euros, the shares of the multi-brand group Stellantis rose temporarily by 6.07 percent to 12.924 euros on the EURONEXT in Paris.
Donald Trump’s advisers are looking at the possibility of tariffs that would be imposed on goods from all countries, but would only cover critical imports, writes the Washington Post, citing three people familiar with the matter. That would be a departure from Trump’s campaign demands to impose tariffs on all imports into the United States.
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FRANKFURT/PARIS (dpa-AFX)
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