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Renault shares fall after Nissan's bleak outlook

Published 05/15/2019, 03:28 AM
Updated 05/15/2019, 03:28 AM
© Reuters. FILE PHOTO: The logo of French car manufacturer Renault is seen during a snow test at the Jules Verne climatic wind tunnel at the Scientific and Technical Center for Building (CSTB) research laboratory in Nantes

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 (PA:RENA) 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.

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