Shares of Europe's biggest carmakers rose Monday as fears over an industry shortage of semiconductors appeared to recede.

China on Saturday said it would consider some exemptions for Nexperia chip exports. It had previously blocked Nexperia semiconductors from leaving the country after the Dutch government seized control of Nexperia, owned by the Chinese company Wingtech .

The standoff between the Netherlands and China had prompted automotive groups to raise the alarm over a worsening chip shortage.

France's Renault , Germany's Mercedes-Benz Group and Milan-listed shares of Jeep maker Stellantis were all trading up around 3% on Monday morning.

Auto parts suppliers Valeo and Aumovio had advanced 3% and 1.6%, respectively, by

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