Europe: Shares slip, Volkswagen leads autos lower
[LONDON] European shares edged lower on Wednesday, extending the previous day's slump to one-month lows, with Volkswagen continuing its slide down following allegations of rigging emissions tests.
Volkswagen shares fell nearly 7 per cent, after plummeting 18.6 per cent on Monday and 19.8 per cent on Tuesday, after the company said the scandal could affect 11 million of its cars around the globe as investigations of its diesel models multiplied.
The STOXX Europe 600 auto and parts index fell 3.5 per cent. The index is down about 15 per cent so far this week. The pan-European FTSEurofirst 300 index was down 0.1 per cent at 1,363.37 points.
Shares in Coloplast also fell 6.7 per cent after the Danish healthcare product maker said it will take a further provision of 3 billion Danish crowns (S$636 million) to cover potential settlements and costs in relation to litigation in the United States.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Singapore stocks open lower on Thursday; STI down 0.3%
Stocks to watch: Frasers Hospitality Trust, AEM, ARA H-Trust, Mermaid Maritime
Hong Kong woos Saudi money in attempt to revive stock market
Europe: Stoxx 600 closes at record high on earnings cheer
US: Stocks mixed as earnings season winds down
US dollar gains ground; subdued yen prompts Japan warning