Peugeot Tops Renault in Market Value for First Time Since 2009
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PSA Group, the maker of Peugeot and Citroen cars, surpassed French archrival Renault SA in stock-market value for the first time in almost a decade after PSA unveiled record profitability Tuesday.
PSA’s market capitalization reached almost 21.5 billion euros ($25.1 billion) after the shares jumped 16 percent over the past two days to close Wednesday at their highest since 2011. Renault, which reports first-half earnings Friday, has a 21.3-billion-euro value.