Shares in French tyre maker Michelin plunged more than 9% on Tuesday after the company sharply cut its full-year profit outlook, citing deteriorating market conditions and a steep fall in North American sales. The stock fell 9.3% to €26.01 in early European trade, heading for its biggest single-day drop since the onset of the pandemic in March 2020. The company now expects segment operating income at constant exchange rates to come in between €2.6 billion and...
Thursday 16 October 2025
wn.com - 2 days ago
Michelin stock slumps 9% as profit downgrade triggers concerns over 2026 targets
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