PSA Peugeot Citroen on Friday said its policy towards 70%-owned Faurecia was unchanged.

“There is no change in policy towards Faurecia,” a spokesman told Reuters, adding they saw no reason for the rise in the parts maker’s share price except for European car sales figures which showed they gained market share in March.

Reuters said the comments came after market rumours that Peugeot could spin off its Faurecia stake pushed Faurecia shares as much as 5.2% higher, while Peugeot’s own stock gained 3%.