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Shares in Fiat fall of more than 4 percent after results
January 30, 2013 / 4:16 PM / 5 years ago

Shares in Fiat fall of more than 4 percent after results

MILAN (Reuters) - Shares in Italian carmaker Fiat FIA.MI were briefly suspended in afternoon trade on Wednesday after a fall of more than 4 percent following the release of its fourth-quarter results.

A company logo is seen on a Fiat car displayed on media day at the Paris Mondial de l'Automobile, September 28, 2012. The Paris auto show opens its doors to the public from September 29 to October 14. REUTERS/Christian Hartmann

The group said on Wednesday its trading profit was 987 million euros in the last three month of 2012, a bit lower than the 1 billion euros expected by analysts. It said it would not pay any dividend on 2012 results.

“In a market falling more than 3 percent, Fiat’s plan not to pay a dividend is taking its toll on the shares,” a Milan trader said.

At 0402 GMT, Fiat shares were down 3.9 percent at 4.50 euros, while Milan blue chip index FtseMIB .FTMIB was down 3.15 percent.

Reporting by Sabina Suzzi; writing by Francesca Landini, editing by Danilo Masoni

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