General Motors shares rise after it raises profit outlook.

General Motors (GM) shares have risen after the firm said it would be more profitable and return more money to shareholders.

Shares in the biggest US carmaker closed 0.6% up after it raised its 2016 earnings forecast by 25 cents to between $5.25 and $5.75 per share.

GM also plans to raise its stock buyback programme by 80% to $9bn and extend it to the end of 2017.
In total, it plans to give $16bn back to shareholders by the end of 2017.

GM executive Mary Barra said: "We made significant progress executing our strategic plan and the results are being demonstrated through our improved earnings."

By: BBC. 

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