Carmakers rebound amid reports on EU-US trade talks

Friday, 12. April 2019 11:24

Shares of major automobile manufacturers rose in early trading during the European session on Friday after a slow start amid reports that European Union countries reached an "agreement in principle" to launch formal trade talks between the bloc and the United States. In February, European Trade Commissioner Cecilia Malmstrom expressed hope that a "limited" trade deal with Washington will be reached by October this year and noted Europe's main priority is the elimination of car tariffs.

Volkswagen shares increased 1.29% at 11:20 am CET, while BMW rose 1.65% at the same time. Daimler jumped 0.97 at 11:21 am CET.

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