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European stocks inch up, U.S. tariffs in focus

European stocks inched up on Thursday, as traders awaited any signs of new political developments in Italy and trade war worries affected German automakers.

Photo: Reuters

The pan-European STOXX 600 index edged up 0.1% to 385.98.

Frankfurt’s DAX 30 index fell 0.5% to 12,725.36, while France’s CAC 40 index gained 0.2% to 5,436.33, and the UK's FTSE 100 rose 0.4% to touch 7,716.11. Italy’s FTSE MIB index jumped 0.6% and Spain’s IBEX 35 was up 0.2% at 9,584.30.

Among major auto makers Volkswagen AG fell 2.1%, Daimler lost 0.9% and BMW AG sank 0.5% after U.S. President Donald Trump has threatened to pursue German carmakers by imposing a 25 percent tariff on cars.

Inflation in France leaped 2.3% on a harmonized basis in May, the first time since 2012 that the rate overpassed the ECB’s inflation target of 2%. For the euro area, inflation in April increased to 1.9%, closer to that target, according to preliminary data from Eurostat.

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