Shares of industrial and transportation companies rose after weakening inflation data spurred hopes of a reversal of recent Federal Reserve rate increases.
Swiss manufacturing and technology company ABB boosted its growth targets. Ford Motor has confirmed that its earnings will take a hit from the United Auto Workers strike, which the auto giant has estimated resulted in $1.7 billion in lost profits.
Spanish construction company Ferrovial is to sell its stake in London’s Heathrow Airport after striking a deal with a French private-equity group and Saudi Arabia’s sovereign wealth fund.
Write to Rob Curran at [email protected]
Read the full article here