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Industrials Down on Trade Nerves -- Industrials Roundup

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06/25/2019 | 04:36pm EDT

Shares of industrial and transportation companies fell as more evidence surfaced of slowing global trade. Denmark's A.P. Moller-Maersk, which owns about one-fifth of global container capacity, has warned the spat between the U.S. and China may cut growth in global container volumes by a third this year. Tallies of imports in many major industrial nations are pointing toward the second straight year of slowing global trade, as tit-for-tat tariffs weigh on activity. When U.S. President Donald Trump meets his Chinese counterpart, Xi Jinping, in Tokyo later this month, the goal will be to restart trade talks between the two countries, Reuters reported Tuesday, citing "a senior administration official." Japan's Mitsubishi Heavy Industries said it would acquire Bombardier's regional-jet business for $550 million. General Electric reached a tentative four-year agreement with a group of unions late Monday after a few weeks of negotiations, keeping the peace with labor as the conglomerate overhauls its operations. Federal Express filed a lawsuit Monday to stop the U.S. government from requiring the package giant to enforce a crackdown on Chinese telecommunications gear maker Huawei Technologies.

-Rob Curran, rob.curran@dowjones.com

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