Renault CEO Departure Affects Nissan Stock Price

Nissan Motor Co Ltd’s stock price has declined following the unexpected departure of Renault’s CEO, Luca de Meo. The news has led to a drop in Renault’s stock price, while Kering’s shares have increased.

Market Reaction

• Renault’s stock price has declined in response to the CEO’s departure.
• Kering’s shares have seen an increase in value.
• The NASDAQ Composite index has experienced a decline.

Nissan’s Response

• Nissan’s new CEO, Ivan Espinosa, has announced plans to sell Renault shares worth approximately 600 million euros.
• The sale is seen as a step back from the long-standing partnership between Renault and Nissan, which has been strained in recent years.

Market Sentiment

The overall market sentiment remains uncertain. The decline in the NASDAQ Composite index suggests a cautious outlook for the market.