October 1, 2018 / 5:28 PM / a year ago

BUZZ-New NAFTA deal lifts shares of carmakers, auto parts makers


** U.S. carmakers, auto parts makers gain as worries over higher tariffs eased on a last-minute trade deal between U.S. and Canada to rescue the trilateral NAFTA accord with Mexico

** Car makers Ford up 1.57 pct at $9.40, while General Motors climb 1.1 pct to $34.06

** Auto parts cos Superior Industries, American Axle , Lear Corp, BorgWarner, Visteon Corp Magna International gain between 0.23 pct and 3.5 pct

** Shares of Canadian auto parts makers also took heart from the new pact as shares of Magna International were up 3.7 pct and Linamar 7.8 pct

** “NAFTA concerns have weighed on the auto industry and the new deal appears to remove risks to Canadian-U.S. auto trade and worries of very high tariffs which could create negative impacts” - David Tyerman, analyst at Cormark Securities (Reporting by Shreyashi Sanyal and Amy Caren Daniel in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below