Renault shares fall after Nissan's bleak outlook

FILE PHOTO: The logo of French car manufacturer Renault is seen at a dealership of the company in Illkirch-Graffenstaden near Strasbourg, France, January 10, 2019. REUTERS/Vincent Kessler/File Photo - Copyright Vincent Kessler(Reuters)

By Reuters

Published on 15/05/2019 - 10:34•Updated 07/05/2024 - 22:18

Comments

PARIS (Reuters) - Renault's shares fell sharply on Wednesday, in the wake of a slump in the stock price of its Japanese partner Nissan after Nissan issued a bleak earnings outlook.

Renault shares were down 2.5 percent in early trading, making them among the worst performers on both the Paris and broader European stock markets.

Nissan forecast a 28% plunge in its annual operating profit, putting it on course for its weakest earnings in 11 years and underscoring its struggle to turn the page after former chairman Carlos Ghosn was ousted.

(Reporting by Sudip Kar-Gupta; editing by Jason Neely)

Comments

Iranian carpet shop owner Ali Faez works at his shop at the traditional bazaar of the city of Kashan, about 152 miles (245 km) south of the capital Tehran, Iran.

Now playing Next

Business

Renault shares fall after Nissan's bleak outlook

You might also like

How the rug got pulled from under Iran's traditional carpet weavers