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United's union deal lifts shares

United Continental (UAL) said it signed a deal with the union representing its nearly 12,000 pilots providing higher pay, lump-sum payments averaging about $40,000 per pilot and 16% higher company contributions to pilots' retirement plan. Leaders of the Air Lines Pilots Association said the deal will help make amends to pilots who granted concessions to the carrier in recent years. Shares rose 1.5%.