Peugeot shares jump on strong sales
French auto group Peugeot reported on Wednesday a 10.2-percent surge in sales in the first quarter and stood by operating forecasts for 2011 despite the impact of disruption in Japan.
The statement sparked a 3.70-percent surge in Peugeot shares to 28.17 euros in a market showing an overall gain of 1.44 percent as measured by the CAC 40 index.
The group said that the effects of the earthquake disaster in Japan would probably hit operating results this year by 150 million euros ($216 million), but even so it expected to achieve its target.
At Deutsche Bank, analyst Gaetan Toulemonde said that the market had welcomed the "reassuring message" from the group.
At CM-CIC, analysts commented: "The sales figure is excellent. The group is benefiting from recent vehicle launches."
© 2011 AFP