NEW YORK – Boeing shares surged yesterday after Ryanair confirmed a major order of Boeing 737 MAX jets while global stocks treaded water on mixed economic data.
The deal for 75 planes by the Irish low-cost carrier was the first major order for the 737 MAX since the aircraft was grounded for 20 months following two fatal crashes.
The news, along with a successful test flight by American Airlines, help send shares in Boeing higher as the aircraft moves closer to returning to the skies after winning approval by United States regulators last month.
Shares in Boeing jumped 6%, helping to lift the Dow on a mixed day for US equities.
While the tech-rich Nasdaq edged to a fresh record, the broad-based S&P 500 finished lower.
European equities were also mixed, with London advancing and Paris and Frankfurt both pulling back.
Data provider IHS Markit said its closely-watched composite eurozone purchasing managers’ index fell to 45.3 points in November from 50 in October, according to final estimates. – AFP, December 4, 2020
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