Almost €5bn was wiped off carmaker’s market value in early trading after news of police raids at carmaker’s premisesFrench ministers possess said that no “defeat device” or fraudulent software in Renault engines has been found,after the carmaker’s share price plunged on Thursday following reports that police had raided its premises. Shares in Renault tumbled more than 20% on Thursday morning as investors feared that the French manufacturer could be drawn into the VW diesel emissions scandal, after unions revealed that fraud investigators had searched three sites the preceding week. Shares rallied to leave Renault down around 10% by the end of the day.
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Source: theguardian.com