Michelin Spins Out on Dim Outlook

When gas prices rise, people drive less and tires don't wear out as fast. Credit Suisse downgrades the French high-end tiremaker

Shares in French tiremaker Michelin skidded 3.27% on June 23 after Credit Suisse analysts downgraded the stock on fears oil prices will continue to rise, squeezing automotive suppliers as motorists curtail their driving.

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