BUZZ-U.S. workers strikes weigh on Stellantis shares
Reuters · 09/15 07:55
BUZZ-U.S. workers strikes weigh on Stellantis shares

Adds analyst comments in bullets 3-5, updates shares

** Milan- and Paris-listed shares in Stellantis STLAM.MI, STLAM.PA slip 0.2%, paring earlier losses of as much as 1.75%, after United Auto Workers (UAW) union launched strikes at three factories of the car-making group in the U.S.

** The UAW launched simultaneous strikes at factories owned by the parent of General Motors, Ford and Chrysler early on Friday, kicking off the most ambitious U.S. industrial labour action in decades

** Equita estimates that if the strike lasts for less than two weeks, the performance could be "recovered" by end-of-year, otherwise it might weigh on Q4

** Intesa Sanpaolo echoes these comments, saying that if prolonged, the halt is set to cause "substantial side effects in terms of vehicles and components shortages", potentially putting upside pressure on final prices

** Equita adds it cannot be ruled out that the strike expands to other plants, where more profitable models are produced

** "We highlight that amongst the Big Three, Stellantis is the most profitable one and could leverage on a lower break-even point as well as on higher inventories days ... than GM and Ford," Intesa Sanpaolo adds

** Shares are among few stocks in the red on Europe's blue-chips index .STOXX50E

(Reporting by Alberto Chiumento, Alessandro Parodi)