Fiat shares fall as German emissions row escalates

Shares in Fiat Chrysler slumped to a three-month low as its fight with Germany over vehicle emissions escalated after the country’s most-read newspaper reported that the authorities found that the company had cheated.

The Italian-US carmaker said all its vehicles meet European rules after Bild am Sonntag reported that Germany’s Federal Motor Transport Authority determined the carmaker allegedly used illegal software to manipulate emissions controls.

Fiat Chrysler dropped up to 5.9% to €5.94, the lowest intraday price since late February, at one stage in Milan trading yesterday. That made Italy’s FTSE MIB Index the day’s worst performer in Europe.