Dieselgate: Fca well in the Bag. Also suspicions about Renault, the title down – BEND.it

The european stock Exchanges continue firmly in positive territory with the index Euro Stoxx earn 0.8% to 3.319 points. Piazza Affari is the pink jersey between the price lists of the Old Continent with the Ftse Mib index rise of 1.4% 19.431 points. Well Paris that earns 0.8%, Frankfurt +0.6% and London +0,3%. All sectors were higher with the financial positive of 1% and industry +0,4%. On the face of the automotive industry in Paris, the title Renault loses 2.1% 84,12 euro, after the news that a panel of three judges will investigate the devices used by Renault for the control of emissions from diesel engines. In Milan, instead, the title Fca earns 3.6%, after the collapse of the eve. the rise and also the Exor, the title of the holding company of the Agnelli family, who earns 5.8%. Square Business stands out Ubi on the rise 7.5% to 3,32 euro. In light of the entire banking sector with the Bank Bpm, up by 4.2%, Unicredit +4.3% and Bper to 3.5%.

the Eu, news from the Us “worrying” – The accusations of the Us authorities towards the Fca “are worrying”. So the spokesman for the european Commission, Lucia Caudet. Brussels – he says, “is in constant contact with the american authorities” have informed “yesterday,” the european executive had received “insufficient information” on the control of emissions. The Commission, taking note of the comments, “working with the Epa, the national authorities and with the Fca to verify the potential implications for all vehicles in the Eu”, added the spokesman.

Renault: suspects on diesel engines, the title collapses – Three French courts will investigate the devices used by Renault for the control of emissions of its diesel engines that are suspected to be rigged: as reported by the prosecutor of Paris. The news brought down the title in the bag, which is losing 4.06% 82,05 euro.
The judicial file was opened on the 12th of January last. After the scandal of the Volkswagen, an independent committee of experts had noted the important reference to the maximum limit of air pollutant emissions on some diesel-powered vehicles sold in France by several manufacturers, including Renault. At eleven the title lost about 4% on the Paris Stock exchange.

“Renault respects the French and european legislation. Renault vehicles have always been type-approved in accordance with the law and regulations. They comply with the rules in force. Renault vehicles are not equipped with the software of fraud devices, anti-pollution,” reads a statement issued by Renault after the opening of a judicial file on the suspicion of emissions-fixing.

On the title Fca are positioned in a manner different managers. Up to now, about 30 analysts that follow the title, 10 advised to sell the 14 and buy. Equita raises the taget price 9.8 (+6%) but if before, he advised a ‘buy’ now more cautiously assign a ‘hold’. EXANE (underperform). Exane recommends caution, Jefferies has a ‘buy’ and seen as ‘essential’, the availability of FCA to cooperate with the Authority the american. Kepler Cheuvreux (hold), and Mediobanca, to point out the differences with the scandal of Volkswagen, and a more limited risk with a fine and, considering the number of cars involved, may be between 450 million and us $ 3.4 billion in the worst case but believe that the Epa will lean eventually for the lesser punishment.

The United States, accuse Fca violation of the emissions standards for diesel cars, with the use of illegal software to circumvent the test (WATCH THE VIDEO). Accusations for which he risks a penalty of up to 4,63 billion dollars. The immediate reaction of the title Fca, which has a Piazza Affari e Wall Street, coming to lose up to 18%. The automaker defends itself, explaining that he comply with the rules and saying that he is ready to cooperate. The case Fca ‘‘it has nothing in common with Volkswagen,” says dry, Sergio Marchionne. A few days after the farewell of the Obama administration and a few hours from the plea from us $ 4.3 billion with Volkswagen for the dieselgate, the Environmental Protection Agency the american pointing the finger at Fca, accusing it of having used a software to work around the tests on diesel emissions, allowing emissions exceeding any of the limits on approximat ely 104,000 cars.

viewfinder of the authorities’ the american there are the Jeep Grand Cherokee and the Dodge Ram with the engine in the 3-liter diesel. The violations of the Fca and the accused, imply a penalty of up to 44.539 dollars for the car, for a total of 4.63 billion dollars. According to the same calculations, for Volkswagen, the dieselgate could pay a maximum penalty of $ 17 billion. “Do not disclose” the existence of a “software that influence the emissions and is a serious violation of the law, which can result in dangerous pollution of the air we breathe,” says the Environmental Protection Agency in a note. “We continue to investigate the nature and impact of these software. All the car manufacturers need to have play with the same rules” add us authorities, according to which the software used by the Fca has many similarities with that of Volkswagen. While the investigations continue, add to the us authorities, the Fca has not yet offered an acceptable explanation as to how the devices are compliant with the law. Fca and was advised Wednesday by the police authorities that something was coming, and coming to the knowledge of the object only in the early morning of Thursday, at 8: 00 a.m. in the morning local. The official announcement of the Epa and it arrived at 11.00. Fca defends himself from the accusations: saying he was “disappointed” for the public release of the Epa, explains that its “emission control systems shall comply with the applicable regulations”. The company agrees to cooperate with the Epa and with the next administration to present its case. Marchionne will defend to the death the Fca: there is no illegal software, and “as far as I know this company, I can say that no one is so stupid to try to mount an illegal software. Then reassures us: “will we survive even if we will be fined up to $ 4.6 billion”.

And yesterday, the title Fca is sunk in the exchange. the analysts invite you to be cautious. The reaction of the title Fca allegations “seems exaggerated”, especially because’ the dispute and’ to the opening bars and there are the data of a potential financial impact, said John Murphy, analyst for Bank of America. A fine of 4 billion would be in the upper part of the fork that can be evaluated, and any resolution is likely to cost less to Fca, adds Murphy. Michelle Krebs, an analyst for AutoTrader, warns us that “we must be careful not to jump to conclusions on the fact that the case Fca, and is the same for the Volkswagen“.