1515 GMT - Stellantis reports progress on its cost-cutting program and holds on to guidance while other manufacturers and suppliers in the sector are cutting, with 3Q results coming in better than expectations, RBC Capital Markets says in a research note. According to RBC analysts, it is impressive that North America EBIT came in ahead despite planned production shutdowns at Jeep, although Europe EBIT came in below amid pricing pressure on the continent. The carmaker's value-creation program is bringing results, but the fourth quarter is going to be the main proof point, especially in relation to the program's savings, RBC says. Shares trade 14% higher at 4.22 euros in Milan.
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