UPDATE 1-Rubber spike punctures Michelin operating target

Newswire

(adds details from statement, background) By Marcel Michelson PARIS, July 28 (Reuters) - Michelin , the world's largest tyre maker, cut its full-year operating profit margin goal in the face of rising prices for rubber and sluggish markets for its products. The French company said on Friday first half-operating income was down 6.2 percent to 644.7 million euros ($821.7 million), below a median analysts consensus of 667 million euros. The company said it now expected a full-year ...

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