Shares in Fiat fall of more than 4 percent after results

Wed Jan 30, 2013 11:13am EST
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MILAN Jan 30 (Reuters) - Shares in Italian carmaker Fiat were briefly suspended in afternoon trade on Wednesday after a fall of more than 4 percent following the release of its fourth-quarter results.

The group said on Wednesday its trading profit was 987 million euros in the last three month of 2012, a bit lower than the 1 billion euros expected by analysts. It said it would not pay any dividend on 2012 results.

"In a market falling more than 3 percent, Fiat's plan not to pay a dividend is taking its toll on the shares," a Milan trader said.

At 0402 GMT, Fiat shares were down 3.9 percent at 4.50 euros, while Milan blue chip index FtseMIB was down 3.15 percent.

(Reporting by Sabina Suzzi; writing by Francesca Landini, editing by Danilo Masoni)