Shares of European car makers climbed Wednesday on the prospect of a softening stance on auto-industry tariffs by the U.S. if the European Union makes a concession. A U.S. official said the U.S. would be prepared to stop threatening to impose stiff tariffs on cars imported from the EU if the bloc eliminates duties on U.S. cars, according to a report by German newspaper Handelsblatt, citing unnamed sources. Prospects for a so-called “zero solution” lifted the Stoxx Europe 600 Autos and Parts Index
up by 3.1%. In Frankfurt trade, shares of BMW AG
leapt 4.2%, Volkswagen AG
gained 2.8% and Daimler AG
added 3.3%. In Paris, Peugeot SA
rose 2.6% and Renault AG
picked up 1.8%. In Milan, Fiat Chrysler Automobiles NV shares
revved up 4.1%.