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Volkswagen Removed from Blue-Chip Index After Issuing Latest Profit Warning
15 hour ago /
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Author：小编
Troubled German automaker Volkswagen (VOW3-DE) issued another profit warning and was removed from the European blue-chip index, causing its stock price to decline on Monday. Volkswagen lowered its sales operating return expectation from 4%-5.5% to a maximum of 1%. As a result, the stock plummeted by 8.3% on Friday and fell by another 0.5% during midday trading on Monday. Volkswagen attributed its performance pressure to significant impairment of equity assets in Porsche, a deteriorating market environment (especially in the Chinese market), and restructuring expenses.
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