UPDATE 2-Euro hurts French carmakers, PSA warns on targets

Newswire

(Wraps PSA and Renault comments, adds background, detail) By Jean-Michel Belot and Rebecca Harrison PARIS, May 28 (Reuters) - French carmakers PSA Peugeot Citroen and Renault said on Wednesday an ever-rising euro was weighing on profit margins, and PSA warned it would be tough to hit its full-year targets. "The economic and monetary context is not favourable, and in these conditions reaching our targets will be difficult," PSA Chairman Jean-Martin Folz told shareholders at their annual ...

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