European carmaker stocks jump after Trump's one-month tariff exemption

The European automakers and components index .SXAP rises 1.9%, among top sectoral gainers, after U.S. President Donald Trump said he would exempt automakers for a month from his punishing 25% tariffs on Canada and Mexico

Shares in carmakers Porsche PSHG_p.DE, Volkswagen VOWG_p.DE, Stellantis STLAM.MI, BMW BMWG.DE and Volvo Cars VOLCARb.ST rise between 2.5-3.5%, while Mercedes MBGn.DE jumps over 5% by around 0915 GMT

Tyre-maker Continental CONG.DE is up almost 3%, truck-maker Daimler Truck DTGGe.DE gains 2.8%, while car parts suppliers Valeo VLOF.PA and Forvia FRVIA.PA rise 5.5% and 2.8%, respectively

"The decision confirms the focus of the Trump administration to secure additional automotive production plant on US soil," brokerage Akros says