UPATE 2-Fiat reported to cut 5,000 jobs, shares rally

Newswire

* Fiat to present strategic plan on April 21 * Stock hits 2-month peak, lead gainer in European sector * Report that spin-off may happen soon also boosting shares * Company says report premature, groundless (Adds shares, more details, Fiat comment) By Lisa Jucca MILAN, March 24 (Reuters) - Industrial group Fiat SpA aims to raise the number of job cuts in Italy to 5,000 and may spin off its car activities sooner than thought, an Italian newspaper said on Wednesday, sharply ...

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