Company News

BUZZ-Boeing: Shares surrender gains as Canada grounds 737 MAX

** Boeing shares reverse course to fall as much as 0.7 pct after Canada decides to ground Boeing 737 MAX aircraft

** Shares were 0.7 pct higher before Canada Transport Minister Marc Garneau said the 737 Max 8 and 9 jets cannot fly into, out of or over Canadian airspace, based on new information received on Wednesday

** Garneau said on Tuesday Canada has no plans to ground the aircraft but was ready to “act immediately” if new safety information emerged

** Canada was one of the notable exceptions as nations and carriers around the world grounded the 737 MAX after Sunday’s deadly plane crash in Ethiopia

** BA shares now flat; they rose as much as 1.7 pct and looked set to snap a 2-day losing run following the crash that has wiped off ~11 pct in stock value and $27.6 bln in market cap (Reporting by Savio D’Souza)