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VW scandal dragging down Europe car stocks

Options traders are preparing for more pain, sending the hedging costs of VW, BMW and Renault soaring

London

MONEY manager Michael Woischneck has been inundated with calls from charities, foundations and churches - clients that prefer investing in socially responsible companies - urging him to avoid Volkswagen AG (VW). He says he has had little choice but to dump the carmaker's shares.