European shares sharply lower as Volkswagen dives; miners down

martes 22 de septiembre de 2015 11:09 GYT
 

* FTSEurofirst 300 index down 3 pct

* Volkswagen wipes off one third of value in 2 days

* Miners among top fallers as metals prices plunge

* Outokumpu drops 22 pct after profit warning

By Atul Prakash and Danilo Masoni

LONDON/MILAN, Sept 22 (Reuters) - European equities fell sharply on Tuesday, with Volkswagen plunging to four-year lows and basic resources firms facing a sell-off after copper prices took a hit on concerns about a global surplus of the industrial metal.

Shares in Volkswagen, which fell almost 20 percent on Monday after it admitted cheating in U.S. emissions tests, were down another 19 percent as investigations spread to Asia and Europe, drving the whole European auto sector lower.

"We would continue to avoid the auto sector as this issue has the potential to roll-on and it's more likely than not to involve more than just one original equipment manufacturer," brokerage Aviate Global wrote in a note.   Continuación...