Germany lags European share rally as Volkswagen scandal widens

miércoles 4 de noviembre de 2015 07:10 GYT

* FTSEurofirst 300 up 1 pct, DAX down 0.1 pct

* VW, Porsche fall more than 8 pct

* Germany PMIs come in under expectations

* Miners rally, led higher by Glencore

By Alistair Smout

LONDON, Nov 4 (Reuters) - European shares rose on Wednesday, led by mining stocks, although Germany's blue-chip index sharply underperformed after a scandal at carmaker Volkswagen widened.

Volkswagen fell 9.4 percent after it said it had understated the fuel consumption of 800,000 cars sold in Europe. Majority stakeholder Porsche was also down 8.2 percent after it warned that VW's latest findings could weigh further on its results.

The STOXX 600 Autos and Parts index was the only European sector in negative territory, with the likes of BMW , Daimler and Peugeot down 2-3 percent.

"Another week, another shock in the VW story. As CO2 becomes the new focus, we cut our estimates and TP to reflect the latest admission," analysts at Exane BNP Paribas said in a note. "VW's latest admission on CO2 will have ramifications across the sector."   Continuación...