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10/31/2019, 9:39 AM (Source: TeleTrader)
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Fiat Chrysler rises 10%, Peugeot falls 9% after merger confirmation

Fiat Chrysler Automobiles' (FCA) stock increased by over 10%, while Peugeot manufacturer PSA Group's shares declined 9% on Thursday after both companies confirmed the merger deal.

According to the agreement, shareholders of both automakers would each own a 50% stake of the newly created company, as they announced in a statement.

Fiat Chrysler shares gained 9.00% to reach €14.03 at 9:30 am CET, while Peugeot's stock decreased by 8.94% to stand at €23.72 at 9:21 am CET.

Breaking the News / MS