BMW shares plunge after China weakness, Iran war trigger profit warning
BMW shares plunge after China weakness, Iran war trigger profit warning FRANKFURT, June 17 (Reuters) - Shares in BMW BMWG.DE fell 8% in early Frankfurt trade after the premium automaker late on Tuesday issued a profit warning that some analysts said signalled a broader strategic rethink.
The company blamed ongoing weakness in China and the impact from the Iran war on prices and customer sentiment, with analysts at Deutsche Bank and Jefferies both saying the outlook cut was significantly larger than expected.
(Reporting by Christoph Steitz, Editing by Miranda Murray)
((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))
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