Tuesday, October 14, 2008
GM and Ford shares surge
 General Motors and Ford shares swelled yesterday following reports of talks between the two manufacturers, as well as between GM and Chrysler, about a possible merger.GM shares closed yesterday $1.62 (£0.93) up - a 33 per cent rise to $6.51. Ford shares also saw a jump with a 24 per cent rise to $2.47 at closing. The rises come despite the scepticism of analysts regarding the possible mergers discussed over the weekend. All three American companies have been struggling to stay afloat since the financial turmoil in their home market as well as abroad. GM shares are down 80 per cent for the year and Ford shares have dropped 70 per cent. DATED: 14.10.08 FEED: MT |
