BUZZ-Stellantis rises after announcing $13 bln investment in US

Reuters
10/15
BUZZ-Stellantis rises after announcing $13 bln investment in US

** Milan-listed shares in Stellantis STLAM.MI rise as much as 4.3% after the automaker said it will invest $13 billion (11.19 billion euros) in the U.S. late on Tuesday

** The "largest single investment" in the group's history will bring five new models and 5,000 jobs in plants across the Midwest over the next four years, Stellantis says

** "The timing of this announcement possibly signals greater tariff comfort/clarity on the part of Stellantis management", TD Cowen notes

** The announcement also provides a path for tariff mitigation and new growth opportunities, it adds

** Shares fell over 4% on Tuesday after credit rating agency Moody's ratings changed its outlook to negative while maintaining its current ratings

** Up to Tuesday's close, shares were down 33.5%​ YTD

(1 euro = $1.1620)

(Reporting by Philippe Leroy Beaulieu in Gdansk)

((Philippe.leroybeaulieu@thomsonreuters.com))

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