Michelin shares fall after tire maker sees lower 2020 operating income

Michelin shares fall after tire maker sees lower 2020 operating income

Shares in French tire maker Michelin fell on Tuesday after the company forecast a slightly lower operating income for 2020 and flagged uncertainty to its business from the coronavirus crisis in China.

FILE PHOTO:  The logo of Michelin Group is seen ahead of a news conference to present the company&a
FILE PHOTO: The logo of Michelin Group is seen ahead of a news conference to present the company's 2018 annual results in Paris, France, February 11, 2019. REUTERS/Philippe Wojazer/File Photo

PARIS: Shares in French tire maker Michelin fell on Tuesday after the company forecast a slightly lower operating income for 2020 and flagged uncertainty to its business from the coronavirus crisis in China.

Michelin shares were down 1.2per cent in early session trading, the worst-performing stock on France's benchmark CAC-40 index .

(Reporting by Sudip Kar-Gupta, editing by Louise Heavens)

Source: Reuters

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