May 2, 2019 / 8:46 AM / in 2 months

BUZZ-Fiat Chrysler shares drop on worries about U.S. car market, ahead of results

** Shares in Fiat Chrysler Automobiles drop 1.5 pct on concerns about further slowdown in the U.S. car market and ahead of its first quarter results, due on Friday

** Toyota Motor and Fiat Chrysler reported a fall in U.S. auto sales for April, as rising prices, higher interest rates and reduced incentives kept away buyers

** Fiat shares drop is more related to worries about the U.S. car market than to its U.S. sales numbers, which were roughly in line with its peers, an analyst says. Fading prospects for a Fed interest rate cut also weigh

** Investors expect Fiat results to be weak, because of a tough base of comparison in Q1 2018, especially for the Jeep brand, the analyst says. On the bright side we will probably have a positive foreign exchange impact, he adds

Reporting by Stefano Rebaudo ;

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below