December 17, 2019 / 8:14 AM / 2 months ago

Airbus shares rise after latest Boeing 737 MAX blow, Safran down

FILE PHOTO: The Airbus logo is pictured at Airbus headquarters in Blagnac near Toulouse, France, March 20, 2019. REUTERS/Regis Duvignau

PARIS (Reuters) - Shares in European aerospace group Airbus rose on Tuesday, after archrival Boeing said it would suspend production of its best-selling 737 MAX jetliner in January.

Airbus shares were up 1.6% in early trading while those in French aerospace company Safran, a supplier to Boeing, were down 2.1%.

On Monday, Boeing said it would suspend production of its best-selling 737 MAX jetliner in January, as the fallout from two fatal crashes of the grounded aircraft drags on into 2020.

Reporting by Sudip Kar-Gupta; editing by Jason Neely

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