August 27, 2018 / 3:52 PM / 25 days ago

BUZZ-Car makers up on U.S.-Mexico NAFTA deal

** Shares of U.S car makers General Motors up 4.2 pct, Ford Motor up ~3 pct, Fiat Chrysler’s U.S listed shares up ~ 4 pct

** Shares of U.S auto parts makers also rise; Goodyear Tire & Rubber Co up 3.7 pct, Dana Inc up ~ 3pct, Lear Corp up 2.2 pct; Tenneco up ~4 pct, BorgWarner up ~ 3 pct

** New U.S.-Mexico deal requires 75 pct auto content to be made in U.S. and Mexico, up from current level of 62.5 pct and would require 40 percent to 45 percent of auto content to be made by workers earning at least $16 per hour

** Canadian auto parts makers’ Magna International Inc up ~5 pct at C$71.72 and Linamar Corp up ~7 pct at C$55.83

** “We will only sign a new NAFTA that is good for Canada and good for the middle class. Canada’s signature is required,” a spokesman for Foreign Minister Chrystia Freeland said

** The Toronto Stock Exchange’s S&P/TSX composite index was up 0.65 pct at 16,461.66 (Reporting by Shanti S Nair in Bengaluru)

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