Fiat Chrysler Rises on NYSE Debut as Challenger to Detroit Duo
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Fiat Chrysler Automobiles NV rose in its New York Stock Exchange debut, which gives U.S. investors more opportunity to tap into the rising global market for cars and trucks and to take a chance on a debt-burdened automaker.
The shares gained 1.8 percent to $8.92 at the close in New York. Fiat Chrysler stock yesterday moved to the NYSE as its primary market from the Milan stock exchange and is trading under the FCAU ticker after closing on Oct. 10 at the equivalent of $8.76 a share. The new Fiat Chrysler, with ambitions to increase vehicles sales by almost 60 percent, will be legally registered in the Netherlands with a London headquarters.