Shares of industrial and transportation companies were higher as a long-running trade dispute ended.
The U.S. and the European Union agreed to suspend their trade dispute over government subsidies to Boeing and Airbus, significantly easing trade tensions amid a broader effort to improve trans-Atlantic relations. The agreement would suspend for five years tariffs that have been authorized by the World Trade Organization, U.S. Trade Rep. Katherine Tai told reporters. The tariffs had been temporarily suspended in March.
Deutsche Lufthansa presented its 2024 targets and revealed plans for a possible capital increase, as it sees growing bookings and prepares for a rebound in passenger demand. The new targets come as the company and the industry expect a business recovery thanks to a gathering pace of vaccination plans and the progressive lifting of travel restrictions. Lufthansa forecasts a positive operating cash flow in the second quarter.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
06-15-21 1706ET
