On the Milan stock exchange, Stellantis – with car brands such as Peugeot, Fiat, and Jeep – was halted from trading in the initial trading session following a price drop of nearly 8 percent. The decline followed the announcement on Sunday that CEO Carlos Tavares would be leaving his position with immediate effect. Tavares is leaving his assignment just two months after the group's finance chief was fired.
The financially strained German car manufacturer Volkswagen (VW) – currently affected by warning strikes hitting nine German factories in a bitter dispute over cutbacks and wage reductions with the union – fell 1.6 percent on the Frankfurt stock exchange.
In Paris, Renault's share price fell 4.4 percent in the shadow of a political crisis that risks ending with the French minority government being toppled in a budget dispute.
