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Fiat shares fall more than 5 percent after 2013 guidance cut

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(Globalpost/GlobalPost)

MILAN (Reuters) - Shares in Fiat <FIA.MI> fell more than 5 percent on Wednesday, triggering a limit-down suspension, after the Italian automaker cut its 2013 targets following a drop in Latin America quarterly revenues.

Fiat now expects to earn a trading profit of between 3.5-3.8 billion euros in 2013, the bottom end falling below an analyst forecast range of 3.65-3.92 billion euros.

Fiat shares last traded down 5.75 percent at 5.495 euros, their lowest level since July 8.

(Reporting by Danilo Masoni, editing by Isla Binnie)

http://www.globalpost.com/dispatch/news/thomson-reuters/131030/fiat-shares-fall-more-5-percent-after-2013-guidance-cut