Michelin Shares Fall 4.5% as Third-Quarter Volumes Decline
Michelin reported a 0.6% year-on-year drop in third-quarter sales volumes, versus company-compiled consensus for 0.6% growth. Shares were 4.5% lower in early Paris trading Wednesday.
Michelin shares declined Wednesday after the French tire maker reported lower sales volumes in the third quarter. The stock was down 4.5% in early Paris trading. Michelin said volumes fell 0.6% from a year earlier, compared with company-compiled consensus expectations for 0.6% growth.