(Reuters) - Pininfarina SpA (PNNI.MI) shares were up more than 8% on Thursday, with traders citing a possible agreement between the company and China Evergrande Group (3333.HK) for the design of a series of electric vehicles.
The stock has lost more than 19% since the beginning of the year and the news of this agreement pushed investors to bet on the stock again, a broker said.
Pininfarina was not immediately available for comment.
On Sept. 19 Evergrande Group’s Chairman Hui Kayan and his team visited Pininfarina’s Turin headquarters and met with Pininfarina’s Chairman Paolo Pininfarina and Chief Executive Silvio Angori, according to a press release.
Reporting by Giancarlo Navach in Milan; Editing by Lisa Shumaker