February 1, 2017 / 9:04 AM / 9 months ago

BUZZ-Michelin: raises prices in N America, shares top of CAC 40

** French tire manufacturer Michelin up 3.5 pct, on track for best day in 1/2 yr

** Co raises prices up to 8 pct across all its brands in US, Canada and Mexico, a first since 2012, citing net effects of raw material prices, market conditions

** “This is a welcome step towards offsetting part of the raw material headwind in 2017,” Jefferies says, adding that challenges remain in Europe and Asia

** Broker says price increases could translate into a c. EUR 250 mln tailwind for 2017

** N American price increase follows an earlier hike by market leader Goodyear

** Shares top France’s blue-chip CAC40 index in heavy volumes; 2/3rds of 30-days avg volume has been covered by 0845 GMT

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below