Fiat shares turn negative after Chrysler results

Newswire

MILAN, April 29 (Reuters) - Shares of Italian automaker Fiat turned negative in midday trading after its U.S. unit Chrysler posted worse-than-expected first quarter results. At 1237 GMT, Fiat shares were down 1.6 percent at 4.61 euros, after having traded 1.2 percent higher before Chrysler said its first quarter net income fell 65 percent to $166 million on new product launches. "The Chrysler results were worse than we thought," said an analyst.

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