US auto tariff cut boosts European carmakers

On this episode of Stock Movers:
- H&M shares soared after the fashion retailer’s profit topped expectations, suggesting tight cost controls are helping its turnaround take hold.
- Koninklijke Philips dropped on news of the Trump administration’s latest probe into imports of robotics, industrial machinery and medical devices, setting the stage for fresh duties.
- Volkswagen and other German carmakers' shares gained on news the US lowered tariffs on auto imports from the EU to 15%, retroactive to August 1.

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