UPDATE 1-Michelin shares slump after cuts 2008 forecast


(Adds analyst comment, Continental, detials and background) By Sudip Kar-Gupta PARIS, April 29 (Reuters) - Michelin lost around a tenth of its stock market value on Tuesday after the French tyre group cut its forecast for 2008 operating income. Michelin shares at one stage fell as much as 10 percent to an intraday low of 60.10 euros, wiping a billion euros off its stock market value to leave it with a market capitalisation of around 8.7 billion euros. The stock, at its lowest in over ...

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