Shares of manufacturing and transportation companies edged higher.
FedEx Corp. is renewing part of its fleet of smaller cargo planes in a deal valued at $1.3 billion at list price, amid an improved outlook for the global airfreight market. FedEx will buy up to 50 turboprop planes from European aircraft maker ATR--a joint-venture between Airbus SE and Italy's Leonardo SpA--the Toulouse, France-based plane maker said. The deal comprises a firm order for 30 planes and options for 20 more, and represents a boost for ATR in the U.S., the world's largest single aviation market.
-By Amy Pessetto, email@example.com
(END) Dow Jones Newswires
November 08, 2017 17:53 ET (22:53 GMT)