Shares watch: Michelin steadies the ship

London – Michelin’s share price steadied on the Paris stock exchange during November following a sharp decline after a prior-month downgrade to the group’s full-year forecasts.

Shares in the French tire maker had been trading close to €99.00 until its 18 Oct announcement lowering financial expectations for 2018.

This was due to a recent slowdown in certain passenger-car and truck & bus tire markets, including in China.

Shareholder reaction knocked about 8% off the value of the tire & rubber products group’s shares, which started November down at…

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