In Piazza Affari, the Fiat stock continues to lose ground. After yesterday's collapse (-3,4%), this morning in the first trading the Lingotto shares travel in the red by about two percentage points, at 7,49 euros. This is the worst fall of the Ftse Mib.
The surge in sales on the auto company is related to two factors. The first, which negatively affected the performance of the entire European auto sector yesterday (-0,4%), is Ford's profit warning. At Investor Day, the American group announced that it had revised its 2014 accounts downwards mainly for three reasons: the Russian crisis, the slowdown in South America and the costs for cars collected due to defects in the USA.
The second factor is instead the letter arrived yesterday from Brussels. THE'European antitrust pointed the finger at the agreement signed in 2012 between Fiat Finance and the tax authorities of Luxembourg, arguing that the agreement damages competition and therefore violates the rules of the EU internal market.
