Reaches tentative deal with UAW

PAMT

16/10/2019 17:08

** Shares of No.1 U.S. automaker  GM.N  rise as much as 2.6%
to $37.21; among top pct gainers on S&P 500 index  .SPX 
    ** GM and UAW reach tentative four-year labor deal, moving
the sides closer to ending the month-long strike by about 48,000
hourly workers
    ** Strike continues at least until Thursday and subject to
approval at the union's national council meeting
    ** Shares of U.S. truckload services provider PAM
Transportation  PTSI.O , which counts GM as its biggest
customer, up more than 5%; Co reports lower quarterly profit on
Tuesday as strike weighs   urn:newsml:reuters.com:*:nL3N2703RK
    ** Canadian auto parts maker Linamar Corp  LNR.TO  also up
more then 2%; Earlier this month Linamar estimated a profit hit
of up to C$1 mln per day due to drop in orders from GM
    ** Up to Tuesday close, GM stock down about 6.7% since Sept.
13, last trading day before start of strike, underperforming
0.4% dip in S&P 500 index  .SPX 

 (Reporting by Ankit Ajmera in Bengaluru)
 ((ankit.ajmera@thomsonreuters.com))