Latest news with #Valeo
Yahoo
5 days ago
- Automotive
- Yahoo
Valeo shares slump as car parts supplier cuts sales forecast
By Alessandro Parodi (Reuters) -Shares in Valeo fell over 16% in early Friday trading, after the French car parts supplier cut its annual sales forecast by at least 1 billion euros ($1.2 billion), blaming a weaker dollar and shrinking global car sales volumes. The designer and producer of driving assistance systems said late on Thursday it expected sales of around 20.5 billion euros this year, down from the 21.5-22.5 billion euros it forecast previously. As U.S. tariffs on foreign auto imports threaten carmakers' margins and sales volumes, Valeo CEO Christophe Périllat told analysts that the company would reap the benefits of a cost reduction programme. On Friday, Volkswagen, one of Valeo's largest customers, cut its full-year sales and profit margin forecasts in its first assessment of the damage from U.S. President Donald Trump's trade war. Volkswagen shares reversed early losses and were up over 2% by 0950 GMT, with a Metzler analyst pointing to CEO Oliver Blume's assessment that the performance of its Porsche and Audi brands could reach a low point this year and recover in 2026. Valeo shares had trimmed early losses to trade down 6.6% at the same time. Several European companies flagged currency risks in their quarterly reports, after Trump's April 2 tariff bombshell triggered market turmoil and sent the safe-haven dollar tumbling. ($1 = 0.8518 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
5 days ago
- Automotive
- Reuters
Valeo shares slump as car parts supplier cuts sales forecast
July 25 (Reuters) - Shares in Valeo ( opens new tab fell over 16% in early Friday trading, after the French car parts supplier cut its annual sales forecast by at least 1 billion euros ($1.2 billion), blaming a weaker dollar and shrinking global car sales volumes. The designer and producer of driving assistance systems said late on Thursday it expected sales of around 20.5 billion euros this year, down from the 21.5-22.5 billion euros it forecast previously. As U.S. tariffs on foreign auto imports threaten carmakers' margins and sales volumes, Valeo CEO Christophe Périllat told analysts that the company would reap the benefits of a cost reduction programme. On Friday, Volkswagen ( opens new tab, one of Valeo's largest customers, cut its full-year sales and profit margin forecasts in its first assessment of the damage from U.S. President Donald Trump's trade war. Volkswagen shares reversed early losses and were up over 2% by 0950 GMT, with a Metzler analyst pointing to CEO Oliver Blume's assessment that the performance of its Porsche and Audi brands could reach a low point this year and recover in 2026. Valeo shares had trimmed early losses to trade down 6.6% at the same time. Several European companies flagged currency risks in their quarterly reports, after Trump's April 2 tariff bombshell triggered market turmoil and sent the safe-haven dollar tumbling. ($1 = 0.8518 euros)
Yahoo
5 days ago
- Automotive
- Yahoo
Valeo shares slump as car parts supplier cuts sales forecast
By Alessandro Parodi (Reuters) -Shares in Valeo fell over 16% in early Friday trading, after the French car parts supplier cut its annual sales forecast by at least 1 billion euros ($1.2 billion), blaming a weaker dollar and shrinking global car sales volumes. The designer and producer of driving assistance systems said late on Thursday it expected sales of around 20.5 billion euros this year, down from the 21.5-22.5 billion euros it forecast previously. As U.S. tariffs on foreign auto imports threaten carmakers' margins and sales volumes, Valeo CEO Christophe Périllat told analysts that the company would reap the benefits of a cost reduction programme. On Friday, Volkswagen, one of Valeo's largest customers, cut its full-year sales and profit margin forecasts in its first assessment of the damage from U.S. President Donald Trump's trade war. Volkswagen shares reversed early losses and were up over 2% by 0950 GMT, with a Metzler analyst pointing to CEO Oliver Blume's assessment that the performance of its Porsche and Audi brands could reach a low point this year and recover in 2026. Valeo shares had trimmed early losses to trade down 6.6% at the same time. Several European companies flagged currency risks in their quarterly reports, after Trump's April 2 tariff bombshell triggered market turmoil and sent the safe-haven dollar tumbling. ($1 = 0.8518 euros)
Time of India
5 days ago
- Automotive
- Time of India
European shares slip as auto stocks weigh, investors eye US-EU trade talks
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel European shares retreated on Friday, giving back gains from the previous session, as automobile stocks weighed and investors awaited updates on EU-U.S. trade talks ahead of U.S. President Donald Trump 's tariff deadline next pan-European STOXX 600 index was down 0.6% at 548.16 points, as of 0712 GMT, after hitting a six-week high on Thursday. Still, the index remained on course for modest weekly FTSE 100 dropped 0.4%, pulling back from its all-time peak reached on regional bourses were also in the the market, European automobile stocks led the sectoral decline with a 1.4% drop, pressured by Valeo after the French car parts supplier cut its full-year sales outlook. Its shares slumped 12.4%.Volkswagen fell 2.4% after Europe's biggest carmaker lowered its outlook on tariff woes. Traton, a truck unit of Volkswagen, came under pressure with an 8.1% slump after it slashed its full-year other stocks, Puma's shares slumped 18.7%, falling the most in the STOXX 600, after the German sportswear brand cut its full-year outlook and reported weaker-than-expected quarterly a week filled with trade discussions, investors cheered agreements with Japan, Indonesia and the Philippines, while hopes for a U.S.-EU deal remain as negotiations with the bloc continued.
Reuters
5 days ago
- Automotive
- Reuters
European shares slip as auto stocks weigh, investors eye US-EU trade talks
July 25 (Reuters) - European shares retreated on Friday, giving back gains from the previous session, as automobile stocks weighed and investors awaited updates on EU-U.S. trade talks ahead of U.S. President Donald Trump's tariff deadline next week. The pan-European STOXX 600 index (.STOXX), opens new tab was down 0.6% at 548.16 points, as of 0712 GMT, after hitting a six-week high on Thursday. Still, the index remained on course for modest weekly gains. UK's FTSE 100 (.FTSE), opens new tab dropped 0.4%, pulling back from its all-time peak reached on Thursday. Most regional bourses were also in the red. In the market, European automobile stocks (.SXAP), opens new tab led the sectoral decline with a 1.4% drop, pressured by Valeo ( opens new tab after the French car parts supplier cut its full-year sales outlook. Its shares slumped 12.4%. Volkswagen ( opens new tab fell 2.4% after Europe's biggest carmaker lowered its outlook on tariff woes. Traton ( opens new tab, a truck unit of Volkswagen, came under pressure with an 8.1% slump after it slashed its full-year outlook. Among other stocks, Puma's ( opens new tab shares slumped 18.7%, falling the most in the STOXX 600, after the German sportswear brand cut its full-year outlook and reported weaker-than-expected quarterly results. In a week filled with trade discussions, investors cheered agreements with Japan, Indonesia and the Philippines, while hopes for a U.S.-EU deal remain as negotiations with the bloc continued.
