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European shares gain on Trump tariff relief, carmakers shine


Added 06-11-19 05:03:01am EST - “European shares gained ground on Tuesday, with Germany's carmakers outperfo...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “European shares gain on Trump tariff relief, carmakers shine”. Below is an excerpt from the article.

LONDON (Reuters) - European shares gained ground on Tuesday, with Germany’s carmakers outperforming, as risk appetite held firm after the United States stepped back from imposing tariffs on Mexico.

The pan-European STOXX 600 climbed 0.62%, on course for a sixth day of gains in the last seven, with Frankfurt’s DAX racing up 1.2% as German investors returned from a one-day holiday.

There, BMW, Daimler and VW - seen as sensitive to trade tariffs - all gained between 1.8%-2%, mirroring a 1.9% gain for the auto sector.

Investors have breathed easier this week after the United States and Mexico reached a deal on Friday to avert tariffs threatened by U.S. President Donald Trump if steps were not taken to curb the flow of mostly Central American migrants.

That eased - for now at least - fears that the United States would find itself in a trade war with another of its largest commercial partners, adding to the dispute with China.

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