A day of passion today on the Stock Exchange for Fiat and Fiat Industrial shares, which lost 2,5 and 2,14% respectively in the mid-morning. At the Lingotto it was not enough to announce the launch of a new bond to improve their fortunes on the stock markets.
Today the entire European sector is penalized by market rumors that growth in new car sales in China this year could be below expectations due to worsening economic conditions. The auto stoxx thus leaves more than two and a half points on the field.
“The sales warning in China is penalizing the entire European auto sector, especially BMW – which drops more than 3% -, minus Fiat which is still feeling the effects of the general decline”, observes a trader. Fiat's US subsidiary, Chrysler, sold around 40.000 cars and trucks in China last year.
