BERLIN (AP) — SHARES IN Germany-based chemicals maker BASF have dropped after the company issued a profit warning, citing factors that included declining global auto production, weakness in the North American agricultural sector and trade conflicts.
On Monday evening, the company said its preliminary second-quarter figures were significantly below both analyst estimates and its own expectations at the beginning of 2019. It said it now expects full-year earnings before interest and taxes to be up to 30% below last year’s, compared with its previous forecast of a slight increase.
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