FRANKFURT (dpa-AFX Broker) - Continental shares came under pressure on Wednesday following a skeptical analyst commentary. The shares of the tire manufacturer and automotive supplier fell by up to 4.6 percent to 63.26 euros in the morning, reaching their lowest level since November last year. At midday, they were still down 3.1 percent. This made the shares one of the weakest stocks in Germany's leading index, the Dax, which rose slightly.

Analyst Jose Asumendi from the bank US-JPMorgan expects a sluggish start to the year for European automotive suppliers such as Continental. The expert believes that the industry will be affected by higher labor costs, generally rising additional costs and negative currency effects. With regard to Continental, the tire division and the rubber and plastic products business would also be negatively impacted by slightly declining volumes./la/mis

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