European carmakers rise after Trump suggests potential tariffs exemptions

Shares in European automakers rise after U.S. President Donald Trump suggested he might grant exemptions on auto-related tariffs

Trump said car companies "need a little bit of time because they're going to make 'em here"

The pan-European STOXX automobiles & parts index .SXAP rises 2.2%, among the best performers of the wider STOXX 600 .STOXX index

Trump's announcement "eases short-term concerns, triggering a rebound in the sector starting with the worst performers", Equita analyst Martino De Ambroggi says

However, it does not remove the uncertainty that will persist until there is a clear and definitive context, he adds

Porsche AG P911_p.DE, Porsche Automobil Holding SE PSHG_p.DE, Volkswagen VOWG.DE, BMW BMWG.DE and Mercedes-Benz MBGn.DE are up between 1.8% and 3.8%

Renault RENA.PA, Volvo Car VOLCARb.ST and Stellantis STLAM.MI are up between 2.1% and 4.5%

Auto parts makers and suppliers Continental CONG.DE, Forvia FRVIA.PA and Valeo VLOF.PA rise 2.9%-3.7%, German truckmaker Daimler Truck DTGGe.DE rises 2.3%