Stocks in Europe were higher on Tuesday, with both the STOXX 50 adding 0.3% and the STOXX 600 rising about 0.7%, as optimism grew over a potential pause in auto tariffs and the earnings season gained momentum.
Investor sentiment was buoyed by President Trump's remarks on Monday, indicating he is considering temporary exemptions on tariffs for imported vehicles and parts to give automakers more time to expand US-based production.
The auto sector led the gains, with Mercedes-Benz climbing 2.9%, BMW 2.5%, Volkswagen 2.8%, Stellantis 4.3%, and Renault 1.9%. Other sectors also traded in positive territory, including media, technology, oil and gas, and real estate.
Conversely, luxury stocks lagged, weighed down by a nearly 6% drop in LVMH shares after the group reported a larger-than-expected 3% decline in Q1 sales. Meanwhile, Ericsson surged 7% after its core earnings beat expectations, while Publicis advanced 3% following a 9.4% rise in Q1 revenue and a reaffirmation of its 2025 guidance.
Source: Trading Economics
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