Shares of industrial and transportation companies were flat after an apparent waning of growth in factory activity.
The Federal Reserve said industrial production rose a seasonally adjusted 0.4% in August from July, following a revised 3.5% rise in July. Despite several months of advances, output remains far below its level before the coronavirus pandemic hit in the spring.
Airport ground services and air-cargo handler Swissport International reached a deal with investors on a balance-sheet restructuring that will preserve its business during the Covid-19 pandemic and pass control from Chinese investment firm HNA to a consortium of U.K. and U.S. investors.
Investor anticipation that “accelerated aircraft retirement could increase demand for new aircraft in the next few years” may be unfounded, said analysts at brokerage Morgan Stanley, in a note to clients. “Oil at $50 per barrel could provide lower retirements than expected.”
Write to Rob Curran at [email protected]
