Airbus shares rally after large Chinese order
Airbus shares rose on Tuesday after the European planemaker won a deal worth tens of billions of dollars to sell 300 aircraft to China.
Airbus was up 1.9pc in early session trading.
French officials said the deal was worth some €30bn at catalogue prices. Planemakers usually grant significant discounts.
The Chinese order was announced late on Monday, coinciding with a visit to Europe by Chinese President Xi Jinping and matching a China record held by US rival Boeing.
Investment bank Citigroup kept a "buy" rating on Airbus.
"We do not have details of the delivery schedule of this order, but China has been taking about 20-25pc of Airbus production per year and given the A320 family is sold out at announced production rates out to 2024/25, we believe this increases the probability of Airbus moving to a production rate of 70 per month," wrote Citigroup.