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Hyundai Motor shares hit 11-month-high on wage deal
September 6, 2013 / 1:05 AM / 4 years ago

Hyundai Motor shares hit 11-month-high on wage deal

SEOUL, Sept 6 (Reuters) - Shares of Hyundai Motor rose to their highest levels in over 11 months on Friday, after the automaker reached a tentative wage deal with its South Korean labour union to avert further production losses.

The union’s members plan to vote on the deal on Monday, after staging a series of partial strikes since Aug. 20 that held up production of 50,000 vehicles worth 1 trillion Korean won.

Hyundai shares were up 2.5 percent at 250,000 Korean won ($230) each as of 0048 GMT, their highest level since early October last year. ($1 = 1098.3750 Korean won) (Reporting by Hyunjoo Jin; Editing by Eric Meijer)

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