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VW shares shrug off loss

28th October 2015

Shares in Volkswagen rose on Wednesday, despite the embattled firm posting its first quarterly loss in 15 years.

Profits at the German carmaker were slammed as it set aside €6.7 billion to cover costs related to its rigging of diesel emissions tests.

VW posted a third-quarter operating loss of €3.48 billion and said it expects profits for the full year to be "down significantly".

In September, the firm admitted installing software on millions of its diesel cars worldwide in order to game emissions tests.

But losses were clearly not as bad as many thought they would be, as shares in VW rose 3.8 per cent after the earnings release.

That helped the DAX to climb by 0.7 per cent in morning trading, while BT rose nearly three per cent as the FTSE added 0.4 per cent.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.