BMW shares down nearly 10% on report of excessive diesel emissions

[FRANKFURT] Shares in the top-of-the-range carmaker BMW fell nearly 10 per cent on the Frankfurt stock exchange on Thursday on a newspaper report that one of its diesel models exceeded EU emission norms.

As the auto sector continued to reel from revelations that German giant Volkswagen was involved in a massive pollution cheating scandal, BMW shares tumbled 9.7 per cent to an intraday low of 72.05 euros in late morning trade on a report in the weekly Auto Bild that emissions from one of its diesel models were 11 times higher than EU norms.

AFP