Michelin shares drop on low European tire demand

ERJ staff report (BC)

Paris – Shares in Michelin & Cie and Continental AG fell the most in more than three months, reports Mathieu Rosemain of Bloomberg, after the French company said demand for tires slumped across Europe last month.

Michelin shares declined as much as 4.10 percent, the biggest intraday drop since 16 October, and were down 2.3 percent at 13:20 on 22 January in Paris. Continental fell as much as 3.8 percent, the most since 16 October, and was down 1.2 percent in Frankfurt.

Sales…

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