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

SXAP, +3.32%

up by 3.1%. In Frankfurt trade, shares of BMW AG

BMW, +2.69%

leapt 4.2%, Volkswagen AG

VOW3, +2.82%

gained 2.8% and Daimler AG

DAI, +2.52%

added 3.3%. In Paris, Peugeot SA

UG, +2.95%

rose 2.6% and Renault AG

RNO, +2.78%

picked up 1.8%. In Milan, Fiat Chrysler Automobiles NV shares

FCA, +5.82%

revved up 4.1%.



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