Renault stock plunges after unions report anti-fraud raids

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Paris (AFP)

Shares in carmaker Renault suffered a meltdown on the Paris stock exchange on Thursday after unions reported raids by anti-fraud detectives on the company, possibly to investigate emissions foul play.

Shortly after midday, Renault shares were down over 20 percent at 69.28 euros, while rival carmaker Peugeot's stock also fell sharply, by nine percent to 13.45.