European shares rise after Trump touts auto-related tariff break, LVMH slumps

April 15 (Reuters) - European shares edged higher on Tuesday as investors digested fast-changing U.S. tariff plans, while LVMH slumped after disappointing first-quarter revenue from the world's largest luxury group underscored the damage caused by the trade war.

The pan-European STOXX 600 .STOXX ticked up 0.6%, as of 0706 GMT, with most regional indexes trading higher barring France .FCHI, which fell 0.2%, weighed down by LVMH's LVMH.PA 7.1% decline.

The company said shoppers in the United States cut spending on beauty products and drinks, while sales in China stayed weak during the quarter.

Peers including Cartier owner Richemont CFR.S, Gucci parent Kering PRTP.PA and Moncler MONC.MI fell between 2% and 2.8%.

But stock indexes in Germany .GDAXI, Spain .IBEX, and the UK .FTSE rose between 0.5% and 0.9%.

The auto and parts index .SXAP rose 2.5%, leading gains among sectors, after U.S. President Donald Trump said he was considering a modification to the 25% tariffs imposed on foreign auto and auto parts imports from Mexico, Canada and other countries.

Investors now await the European Central Bank's policy meeting on Thursday, with markets widely anticipating a 25-basis-point rate cut.

BE Semiconductor Industries (BESI) BESI.AS jumped 7.1% after U.S.-based computer chip equipment supplier Applied Materials AMAT.O bought a 9% stake in the Dutch semiconductor advanced packaging firm.

Ericsson ERICb.ST rose 6.9% after the telecoms equipment maker reported much better-than-expected first-quarter core earnings.