(Reuters) – European shares were little changed on Tuesday, as positive earnings updates from Deutsche Post and Infineon were offset by caution ahead of a speech by U.S. President Donald Trump that could offer clues about a trade deal with China.

The pan-European STOXX 600 index was up 0.1% on hopes Washington will delay tariffs on cars and auto parts imported from the European Union.

Telecoms shares .SXKP led gains, boosted by the world’s second largest mobile operator Vodafone (VOD.L) after it increased its full-year earnings guidance.

Limiting gains for the auto index .SXAP, Renault (RENA.PA) tumbled to a 6-1/2 year low as Japanese carmaker Nissan (7201.T), in which the French firm is a top shareholder, reported a 70% drop in quarterly profit and slashed full-year outlook.

German peer Continental AG (CONG.DE) slipped 1.6% after reporting a 20% drop in quarterly operating profit and flagged a drop in production of cars and light trucks.

Investors are keenly awaiting a speech by Trump to the Economic Club of New York later in the day to look for any new word on the Sino-U.S. Phase one trade deal.

“Our base case is they’re moving toward some form of a limited trade deal,” said Rupert Thompson, head of research at Kingswood. “The hope is that he will confirm that some existing tariffs maybe rolled back.”

Investors will also be watching for a survey from the ZEW institute on German economic sentiment for November.

Trade-sensitive chipmakers took the spotlight, with Dialog Semiconductor (DLGS.DE) jumping 6.1% after it lifted its gross and operating margin forecasts.

Infineon Technologies (IFXGn.DE) gained 5.2% and was set for its biggest percentage gain in 11 months despite forecasting slower growth in the year ahead. Analysts said the outlook suggests a strong recovery in the second half of 2020.

German post and logistics group Deutsche Post DHL (DPWGn.DE) rose 4.6% after reporting an almost tripling of third-quarter operating profit and said it expected a strong fourth quarter.

Shares in Barry Callebaut AG (BARN.S), which makes chocolate and cocoa products for firms like Nestle (NESN.S) and Unilever (ULVR.L), slid 7.7% after investment firm Jacobs Holding said it was selling a 2.85% stake in the company.

French mobile operator Iliad (ILD.PA) jumped 17.7% to the top of STOXX 600, after announcing plans for a 1.4 billion euro ($1.5 billion) share buyback guaranteed in full by founder Xavier Niel.

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