On November 25, the Peugeot shares jumped 5% to 10.78 euros a share, whereas the Renault papers grew 2% to 65.82 euros.
As of 19:00 Moscow time, Peugeot quotes retraced to 10.66 euros, while Renault securities were traded at 65.13 euros.
Agence France-Presse reports that the shares of the French car makers got a boost from the Iranian nuclear deal according to which the Persian country agrees to freeze its enrichment program for 6 month in exchange to lift sanctions.
This easing may entail growth of Peugeot sales as Iran used to be company’s second biggest market in car sales volumes after France.
Moreover, the news that Peugeot may consider hiring a top executive from Renault, Carlos Tavares, weighted on the company’s shares.
The French car makers as well as other European car companies were badly hurt by the European crisis and recession. The EU sales contracted 6.6% during the first half of the year to 6.2 million. The indicator hit its low in 20 years.
