Top officials at the assembly line of ‘Fiat 500’ in Turin, Italy. Agence France-Presse
Fiat Chrysler Automobiles (FCA) said that new US pickup truck models would help the automaker achieve its 2019 profit targets and offset a weak performance in the first quarter. Sticking to its previous forecast, which calls for a full-year 2019 adjusted pre-tax profit of more than 6.7 billion euros ($7.48 billion),
Renault’s board of directors will meet Tuesday to formulate its response to a merger proposal by Fiat Chrysler, which is likely to lead to talks aimed at creating the world’s third-largest automaker, the company said.
Fiat Chrysler has made a “transformative” all-share merger proposal to French rival Renault, the Italian-American carmaker said on Monday, in a deal to create a new third-ranked global manufacturer.
Global shares climbed on Monday as investors snapped up automaker stocks following confirmation of merger talks between Fiat Chrysler and Renault, and after pro-EU parties kept a firm grip on power in elections to the European Parliament.
The benchmark Nikkei 225 index gave up 0.39 percent or 88.21 points to 22,329.94, but made a weekly gain of 2.86 percent, driven up by robust US shares.The broader Topix index lost 0.20 percent or 3.14 points to 1,546.74, but advanced 3.39 percent over the week.
The blue-chip FTSE 100 was down 0.1%, The mid-cap FTSE 250 dipped 0.3%, with losses in industrial, energy and tech-related stocks.
US West Texas Intermediate (WTI) crude futures slipped 17 cents, or 0.41%, to $41.78 a barrel by 0651 GMT, while Brent crude fell 17 cents, or 0.38%, to $44.92. Both contracts had traded higher earlier in the day.
Global equity markets slipped and bond yields fell on Thursday as investors awaited an agreement on a US aid package to mitigate the fallout from the coronavirus crisis, with poor corporate earnings reports also weighing on European shares.