October 17, 2017 / 2:13 PM / 8 months ago

Bombardier soars after CSeries deal with Airbus

TORONTO (Reuters) - Bombardier Inc shares surged more than 20 percent on Tuesday after the Canadian planemaker said it would sell a majority stake in its CSeries jetliner program to Airbus SE.

A logo of jet manufacturer Bombardier is pictured on their booth during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland on May 22, 2017. REUTERS/Denis Balibouse/Files

The stock jumped 56 Canadian cents, or 23.7 percent, to C$2.92, on track for its biggest one-day gain since September 2015, on the deal, which analysts said could quash Bombardier’s dispute with Boeing Co.

Boeing shares were down 0.8 percent at $257.76 in U.S. trading. Airbus shares were up 4 percent at 80.11 euros, one of the biggest rises by a European blue-chip stock.

Reporting by Solarina Ho; Editing by Nick Zieminski

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