(Reuters) - European shares edged higher on Tuesday as investors digested fast-changing U.S. tariff plans, while LVMH slumped after disappointing first-quarter revenue from the world’s largest luxury group underscored the damage caused by the trade war.

The pan-European STOXX 600 ticked up 0.6%, as of 0706 GMT, with most regional indexes trading higher barring France, which fell 0.2%, weighed down by LVMH’s 7.1% decline.

The company said shoppers in the United States cut spending on beauty products and drinks, while sales in China stayed weak during the quarter.

Peers including Cartier owner Richemont (SIX: CFR ), Gucci parent Kering (EPA: PRTP ) and Moncler fell between 2% and 2.8%.

But stock indexes in Germany, Spain, and the UK rose between 0.5% and 0.9%.

The auto and parts index rose 2.5%, leading gains among sectors, after U.S. President Donald Trump said he was considering a modification to the 25% tariffs imposed on foreign auto and auto parts imports from Mexico, Canada and other countries.

Investors now await the European Central Bank’s policy meeting on Thursday, with markets widely anticipating a 25-basis-point rate cut.

BE Semiconductor Industries (AS: BESI ) jumped 7.1% after U.S.-based computer chip equipment supplier Applied Materials (NASDAQ: AMAT ) bought a 9% stake in the Dutch semiconductor advanced packaging firm.

Ericsson (BS: ERICAs ) rose 6.9% after the telecoms equipment maker reported much better-than-expected first-quarter core earnings.