Volkswagen woes deepen as blue-chip index exit follows latest profit warning

Live updates

1. 2d ago

   Volkswagen Posts Deepest Loss Since Dieselgate

   Volkswagen posted a €5.86 billion operating loss for the third quarter of 2026, driven by €7.8 billion to €8 billion in special items including a major Porsche writedown. The result marks the automaker's steepest quarterly deficit since the fourth quarter 2015 Dieselgate emissions scandal. The net loss for the quarter reached €4.6 billion, pushing twelve-month margins down to 0.3 percent. Management warned that the company cannot afford to lose any time as it prepares a €31 billion cost plan to address intense competition in China, US tariffs, and declining vehicle deliveries.

   Why it matters

   The steep financial decline threatens core operations, prompting management to pursue radical restructuring plans that could potentially lead to the closure of German factories. These aggressive cost measures are colliding with resistance from German unions, setting up an industrial conflict. Traders are scrutinizing the red ink and fragile interest coverage ratio as the automaker faces an impending exit from the blue-chip index after investors absorbed a 30.8 percent loss including dividends this year.

   What is confirmed

   • Volkswagen reported a Q3 operating loss of €5.86 billion.
   • The operating loss was driven by special items totaling €7.8 billion to €8 billion, including a Porsche writedown.
   • The company posted a net loss of €4.6 billion for the quarter.
   • Global vehicle deliveries dropped 14.3 percent to 1.89 million units.
   • The automaker is preparing a €31 billion cost plan.

   Still unconfirmed

   • The forced restructuring could lead to the closure of some German factories.

   What to watch next

   • Implementation details and union reactions to the €31 billion cost plan and potential German factory closures.
   • Official confirmation of the company's departure from the blue-chip index.
   • Further developments regarding US tariffs and sales performance in China.
   Sources used for this update (5)

   1. thenextweb.com — Volkswagen loses €5.8bn in a quarter as Porsche, China and tariffs bite
   2. theautowire.com — Volkswagen Q3 Operating Loss: €5.86 Billion and a Cost Plan
   3. finance.yahoo.com — Volkswagen (XTRA:VOW3) Q3 Results Deepen Margin Squeeze After ...
   4. eadaily.com — Volkswagen is flying into the abyss — Financial Times
   5. www.europesays.com — Volkswagen posts deepest loss since Dieselgate on Porsche ...
   confidence 95%
2. 4d ago

   Volkswagen woes deepen with €5.86B Q3 loss and blue-chip exit

   Volkswagen reported a €5.86 billion Q3 operating loss due to an €8 billion Porsche writedown and intense competition in China. Global vehicle deliveries dropped 14.3% to 1.89 million units, with declining sales in North America and China. The company is preparing for an exit from the blue-chip index, with investors shouldering a 30.8% loss including dividends since the beginning of the year.

   Why it matters

   Volkswagen is undergoing its largest corporate restructuring in history. The company's financial struggles are attributed to the 'Dieselgate' scandal and increased competition in the Chinese market. The exit from the blue-chip index and profit warnings have raised concerns about the company's future prospects.

   What is confirmed

   • Volkswagen reported a €5.86 billion Q3 operating loss.
   • Global vehicle deliveries dropped 14.3% to 1.89 million units in Q3.
   • Investors have shouldered a 30.8% loss including dividends since the beginning of the year.

   What to watch next

   • Volkswagen's official exit from the blue-chip index
   • The company's Q4 financial report
   • Progress on Volkswagen's corporate restructuring efforts
   Sources used for this update (2)

   1. www.dw.com — VW logs €5.86 billion Q3 operating loss on Porsche writedown
   2. carbuzz.com — VW Finance Boss Issues Urgent Warning After $6B Loss: 'We ...
   confidence 100%
3. 7d ago

   Volkswagen Posts Massive Q3 Operating Loss on Porsche Writedown

   Volkswagen posted a multi-billion euro operating loss in the third quarter following an €8 billion Porsche writedown and intense competition in China. The automaker reported the result on Thursday, deepening financial pressures as it handles the largest corporate restructuring in its history. Global vehicle deliveries dropped 14.3 percent to 1.89 million units in the third quarter due to declining sales in North America and China. Investors have shouldered a 30.8 percent loss including dividends since the beginning of the year, while the company prepares for an exit from the blue-chip index.

   Why it matters

   The severe financial downturn highlights deep vulnerabilities in Europe's largest carmaker as management attempts massive structural reforms. Internal debates with labor representatives persist regarding plant closures and job cuts. These financial strains coincide with a planned departure from the blue-chip index.

   What is confirmed

   • Volkswagen reported a multi-billion euro operating loss in the third quarter of 2026.
   • The automaker struggled with intense Chinese competition during the period.

   Still unconfirmed

   • The third-quarter operating loss reached €5.9 billion, representing the worst performance in a decade and driven mainly by an €8 billion Porsche writedown.
   • The third-quarter loss was €5.8 billion according to Euronews.

   What to watch next

   • Execution of the planned departure from the blue-chip index
   • Further updates regarding labor negotiations on plant closures and job cuts
   • Full-year performance indicators for 2026
   Sources used for this update (3)

   1. www.globalbankingandfinance.com — Volkswagen slumps deeper into the red on Porsche writedown
   2. www.euronews.com — Volkswagen posts €5.8 billion loss as Chinese competition ...
   3. www.volkswagen-group.com — Volkswagen Group: Nine-month results underline urgent need ...
   confidence 90%
4. 10d ago

   Volkswagen Woes Deepen Amid Profit Warnings and Restructuring

   Volkswagen faces mounting pressures as it executes the largest corporate restructuring in its history, marked by plant closures and job cuts under intense internal debate with labor representatives. Investors have absorbed a 30.8 percent loss with dividends included since the start of the year. Global vehicle deliveries fell 14.3 percent to 1.89 million units in the third quarter, driven by falling sales in China and North America. CEO Oliver Blume navigates these internal disputes while the automaker prepares for a planned departure from the blue-chip index.

   Why it matters

   Headquartered in Wolfsburg, Lower Saxony, the company operates as a major global automotive conglomerate. As of 2025, the brand held a market capitalization of approximately US$58.9 billion. The Volkswagen Group ranked as the world's second-largest automaker by sales in 2024 and maintains the largest market share in Europe.

   What is confirmed

   • Volkswagen AG is headquartered in Wolfsburg, Lower Saxony, Germany.
   • The company had a market capitalization of approximately US$58.9 billion as of 2025.
   • Volkswagen Group was the world's second-largest automaker by sales in 2024.

   What to watch next

   • Execution of planned plant closures and job reductions
   • Resolution of internal friction between CEO Oliver Blume and labor representatives
   • Official departure from the blue-chip index
   Sources used for this update (10)

   1. finance.yahoo.com — One place for your portfolios, metrics and more
   2. www.vw.com — VW.com | Official Home of Volkswagen Cars & SUVs
   3. en.wikipedia.org — Volkswagen - Wikipedia
   4. www.volkswagen.co.uk — Volkswagen UK | The official Volkswagen website
   5. www.vw.com — VW Models: SUVs, Sedans, Electric cars | Volkswagen
   6. www.volkswagen.de — Startseite | Volkswagen Deutschland
   7. www.caranddriver.com — Volkswagen Vehicles: Reviews, Pricing, and Specs
   8. en.wikipedia.org — Volkswagen Group - Wikipedia
   9. www.volkswagen.gr — Volkswagen: Αγορά Αυτοκινήτου & Υπηρεσίες | Volkswagen.gr
   10. www.volkswagen.gr — Volkswagen: Μοντέλα και Διαμόρφωση | Volkswagen.gr
   confidence 100%
5. 13d ago

   Volkswagen Faces Historic Overhaul Amid Profit Warning

   Volkswagen is undertaking the largest corporate restructuring in its history, featuring sweeping job reductions and plant closures under active debate following a profit outlook reset. Investors holding shares since the beginning of the year endured a 30.8 percent loss with dividends included. Third-quarter global vehicle deliveries decreased by 14.3 percent to 1.89 million units due to declining sales in China and North America. Meanwhile, CEO Oliver Blume faces fierce internal friction with labor representatives over the aggressive cost-cutting measures, and the automaker prepares for a planned departure from the blue-chip index.

   Why it matters

   The steep profit outlook reset and sliding global sales highlight severe headwinds facing Europe's largest carmaker. Deepening internal conflict between executive leadership and labor unions complicates the implementation of necessary structural savings. These financial pressures threaten to erode the company's traditional market standing.

   What is confirmed

   • Volkswagen announced the largest restructuring in its history, which includes sweeping job cuts and plant closures under debate.

   What to watch next

   • Decisions regarding specific plant closures and the timeline for job reductions
   • Developments in negotiations between CEO Oliver Blume and labor representatives over cost-cutting initiatives
   • The official execution date and market impact of the automaker's exit from the blue-chip index
   Sources used for this update (2)

   1. www.europesays.com — Did Volkswagen’s Fall Catch You Out? What Investors Missed
   2. markets.ft.com — Volkswagen AG, VOWX:GER financials - FT.com
   confidence 100%
6. 16d ago

   Volkswagen Woes Deepen With Historic Restructuring and Losses

   Volkswagen is pursuing the largest restructuring in its corporate history following a steep profit outlook reset that shocked the market. Investors holding Volkswagen shares since the start of the year faced a 30.8 percent loss, including dividends. The automaker is implementing sweeping job reductions while plant closures remain under active debate. These drastic measures coincide with a planned exit from the blue-chip index and severe internal friction between CEO Oliver Blume and labor representatives over cost-cutting initiatives. The company also recorded a 14.3 percent drop in third-quarter global vehicle deliveries, falling to 1.89 million units due to sliding sales in China and North America.

   Why it matters

   The deepening crisis reflects mounting pressure from aggressive electric vehicle competition, new tariffs, and severe operational headwinds in key overseas markets. Management and labor are currently locked in intense disputes over how to execute the necessary cost reductions. The combination of falling vehicle deliveries and a reset profit outlook forced the automaker's removal from a major blue-chip stock index.

   What is confirmed

   • Holding Volkswagen from the start of the year resulted in a 30.8% loss, including dividends.
   • Volkswagen announced the largest restructuring in its history, featuring sweeping job cuts and plant closures under debate.
   • Volkswagen recorded a 14.3 percent drop in third-quarter global vehicle deliveries to 1.89 million vehicles.

   What to watch next

   • Decisions regarding proposed plant closures and execution details of the sweeping job cuts.
   • Developments concerning CEO Oliver Blume and labor negotiations over cost-cutting initiatives.
   • Official implementation of the planned exit from the blue-chip index.
   Sources used for this update (2)

   1. simplywall.st — Did Volkswagen's Fall Catch You Out? What Investors Missed
   2. finance.yahoo.com — Volkswagen Q3 Deliveries Fall 14.3% as China Sales Slump
   confidence 100%
7. 19d ago

   Volkswagen Q3 Deliveries Drop 14.3 Percent Amid Deepening China Weakness

   Volkswagen AG recorded a steep decline in global vehicle deliveries during the third quarter of 2026, falling by 14.3 percent to 1.89 million vehicles. This marks the company's largest quarterly drop in over four years, driven primarily by sustained weakness in China and growing challenges in North America. The delivery contraction compounds broader financial difficulties for the automaker, which has issued profit warnings and faces a planned exit from the blue-chip index. Additionally, CEO Oliver Blume continues to experience severe friction with labor representatives over restructuring and cost-cutting initiatives.

   Why it matters

   The steep contraction in global deliveries highlights the severe structural and market pressures facing Europe's largest automaker as it attempts to reverse slumping sales in critical overseas regions. Volkswagen's struggles in China, traditionally its most lucrative market, reflect intense local competition and shifting consumer preferences toward domestic electric vehicle brands. Domestically, the company remains locked in contentious negotiations with labor unions regarding painful cost-reduction measures and plant restructuring necessary to preserve margins.

   What is confirmed

   • Volkswagen Group recorded a sharp decline in global vehicle deliveries during the third quarter of 2026.
   • Weakening demand in China drove much of the delivery drop for Volkswagen Group during the third quarter of 2026.

   What to watch next

   • Updates regarding the finalized timeline and execution of Volkswagen's planned exit from the blue-chip index.
   • Developments in labor negotiations between CEO Oliver Blume and worker representatives concerning restructuring and cost-cutting.
   Sources used for this update (3)

   1. daxstreet.com — Volkswagen Q3 Deliveries Fall 14.3% as China Market Weakness ...
   2. stockanalysis.com — Volkswagen AG (VLKAF) Stock Price & Overview
   3. www.europesays.com — What Investors Got Wrong About Volkswagen Before The Drop
   confidence 100%
8. 22d ago

   Volkswagen Q3 Deliveries Plunge 14.3 Percent Amid China Slump

   Volkswagen AG reported a 14.3 percent year-over-year decline in global vehicle deliveries for the third quarter of 2026, marking its steepest quarterly drop in more than four years. Global deliveries fell to 1.89 million vehicles as sustained weakness in China, the automaker's largest market, and mounting challenges in North America dragged down sales. This latest sales contraction compounds the company's broader financial strains, following earlier profit warnings and a planned exit from the blue-chip index. CEO Oliver Blume continues to face intense friction with labor representatives over restructuring plans and aggressive cost-cutting initiatives.

   Why it matters

   The steep delivery drop highlights the mounting pressures facing traditional European automakers as demand falters in vital overseas markets like China. Volkswagen is already attempting to execute sweeping workforce reductions and potential plant closures to preserve capital amid a shrinking revenue outlook for 2026. Labor representatives have historically resisted these structural overhauls, complicating management efforts to resolve the deepening operational crisis.

   What is confirmed

   • Volkswagen AG reported a 14.3 percent year-over-year decline in vehicle deliveries for the third quarter of 2026.
   • Global deliveries fell to 1.89 million vehicles, marking the automaker's steepest quarterly drop in more than four years.
   • Weakness in China, the company's largest market, and mounting challenges in North America dragged down third-quarter sales.

   What to watch next

   • Further updates on CEO Oliver Blume's negotiations with labor representatives regarding wage talks and structural plant overhauls.
   • Financial updates confirming the scale of revenue impacts following the third-quarter delivery slump.
   Sources used for this update (6)

   1. www.newsday.com — Nor'easter latest: Rain and strong winds could cause more flooding overnight
   2. stockanalysis.com — Volkswagen AG (ETR:VOW3) Stock Price & Overview
   3. finance.yahoo.com — Volkswagen Q3 2026 deliveries drop 14% on China weakness
   4. autoigloo.com — Volkswagen Deliveries Plunge 14.3% in Worst Drop in Four ...
   5. www.gurufocus.com — Volkswagen (VWAGY) Posts Largest Q3 Vehicle Delivery Drop in ...
   6. www.rte.ie — Volkswagen deliveries post steepest drop in over 4 years - RTÉ
   confidence 100%
9. 27d ago

   Volkswagen Faces Deepening Crisis Amid Plant Closures and Restructuring

   Volkswagen confronts an escalating crisis marked by severe financial strain and massive structural turmoil. The automaker is implementing sweeping workforce reductions alongside potential plant closures as part of a radical cost-cutting agenda. Revenue projections for 2026 have dropped to EUR 315.00 billion from EUR 321.90 billion in 2025, while shares have fallen significantly. CEO Oliver Blume faces fierce opposition from powerful labor representatives who have previously blocked restructuring initiatives, creating severe friction over wage talks and strategic overhauls as the company navigates ongoing market challenges.

   Why it matters

   The deepening operational crisis follows a dramatic share price slide that resulted in Volkswagen losing its place in Europe's blue-chip index after 25 years. Management is grappling with persistent pressures in the Chinese market alongside costly technological reversals, including the winding down of an autonomous driving alliance with Bosch. These mounting economic hurdles have forced the automaker into a high-stakes confrontation over labor costs and manufacturing footprints.

   What is confirmed

   • Volkswagen reported revenue falling to EUR 315.00 billion for 2026 from EUR 321.90 billion in 2025.
   • CEO Oliver Blume faces opposition from labor representatives who blocked a sweeping restructuring plan.
   • Volkswagen stock traded at EUR 69.15 on October 1, 2026, down from EUR 70.49.
   • Volkswagen issued Q2 2026 earnings on July 24, 2026, reporting an EPS of $0.30.

   Still unconfirmed

   • Volkswagen's supervisory board has approved cutting 100,000 jobs and closing four German plants.

   What to watch next

   • The upcoming interim report and interim earnings scheduled for October 29, 2026
   • Developments in ongoing wage talks and labor resistance against restructuring proposals
   Sources used for this update (9)

   1. www.ad-hoc-news.de — Volkswagen cuts 2026 profit forecast. Volkswagen stock loses ...
   2. www.finanznachrichten.de — Abstieg nach Kursdesaster: VW-Aktie tief in der Krise: Jetzt ...
   3. www.finanznachrichten.de — PTA-Adhoc: VOLKSWAGEN AKTIENGESELLSCHAFT: Volkswagen AG ...
   4. live.euronext.com — Volkswagen revamp plan blocked by labour opposition, sources ...
   5. www.marketbeat.com — Volkswagen (VWAGY) Earnings Date and Reports 2026 - MarketBeat
   6. www.marketbeat.com — Volkswagen (VWAGY) Stock Price, News & Analysis - MarketBeat
   7. www.itbear.com — Volkswagen Pulls Plug on Bosch Autonomous Driving Alliance ...
   8. www.ad-hoc-news.de — Volkswagen's 33% Slide Meets a Two-Front October: Labor ...
   9. europeans24.com — Volkswagen’s 100,000 Job Cuts: What the Biggest Corporate ...
   confidence 90%
10. 35d ago

    Volkswagen Faces Deepening Financial Crisis Amid Profit Warning

    Volkswagen Group faces severe financial pressure as its 2026 operating profit could drop by £8.6 billion, with the profit margin cut to a maximum of 1 percent. This latest profit warning compounds existing troubles for the automaker, which was recently removed from the Euro Stoxx 50 index following 25 years in the elite circle. Management acknowledges an urgent need for an operational overhaul to address persistent struggles in the Chinese market and a 6 billion euro Porsche goodwill write-down. Deutsche Bank analysts note the revised profit outlook still protects the company's cash generation.

    Why it matters

    The loss of its spot on the Euro Stoxx 50 index marks a major milestone in Volkswagen's ongoing decline from the blue-chip circle. Management faces intense pressure from dealers and investors to execute a swift operational overhaul to counter sliding margins. Financial strains have been exacerbated by goodwill write-downs and weakening performance in key overseas markets like China.

    What is confirmed

    • Volkswagen Group warned its 2026 operating profit could fall £8.6 billion with the margin cut to a maximum of 1 percent.

    Still unconfirmed

    • Dealer pricing reports indicate the financial pressures on Volkswagen create significant margin concerns for auto retailers.

    What to watch next

    • Further details on the operational overhaul by management
    • Subsequent stock performance and financial filings for Volkswagen AG (BUD:VOLKSWAGEN and NEO:VWA)
    Sources used for this update (5)

    1. www.cnbc.com — Automobiles - CNBC
    2. stockanalysis.com — Volkswagen AG (BUD:VOLKSWAGEN) Stock Price & Overview
    3. www.dealerpricing.co.uk — VW Group warns profit could fall £8.6bn as margin hits 1%
    4. stockanalysis.com — Volkswagen AG (NEO:VWA) Stock Price & Overview
    5. www.marketscreener.com — Volkswagen AG: Financial Data Forecasts Estimates and ...
    confidence 100%
11. 37d ago

    Volkswagen Ejected From Euro Stoxx 50 After 25 Years

    Volkswagen has been removed from the Euro Stoxx 50 index after 25 years in the elite circle, deepening the automaker's ongoing crisis. The automotive giant faces severe financial pressure marked by a lowered profit forecast of 1 percent, a 6 billion euro Porsche goodwill write-down, and persistent struggles in the Chinese market. Management acknowledges the urgent need for an operational overhaul, while Deutsche Bank analysts note the revised profit outlook still protects the company's cash generation.

    Why it matters

    The departure from Europe's premier stock exchange index follows a sharp drop in share value that highlights the mounting troubles at the automotive giant. Volkswagen must now execute an operational turnaround amid declining performance in key international markets.

    What is confirmed

    • Volkswagen has been removed from the Euro Stoxx 50 index after 25 years.
    • The automaker lowered its profit forecast to 1 percent due to a 6 billion euro Porsche goodwill write-down and struggles in China.
    • Deutsche Bank analysts report that the reduced operating profit forecast preserves the company's cash generation capabilities.

    What to watch next

    • Updates on Volkswagen's restructuring plans, job cuts, and plant closures.
    • Developments regarding the company's shifting United States strategy.
    Sources used for this update (3)

    1. economictimes.indiatimes.com — The road ahead for Volkswagen's restructuring: Explained
    2. stockanalysis.com — Volkswagen AG (FRA:VOW) Stock Price & Overview
    3. wegil.com — Volkswagen Kicked Out of Europe's Premier Index – After 25 ...
    confidence 100%
12. 39d ago

    Volkswagen Faces Deeper Crisis Following Profit Warning And Index Exit

    Volkswagen faces mounting financial pressure after being removed from the Euro Stoxx 50 blue-chip index following a severe drop in share value. The automaker lowered its profit forecast to 1 percent, driven by a 6 billion euro Porsche goodwill write-down and struggles in the Chinese market. Management acknowledges that the company has no time to lose as it attempts an urgent operational overhaul. Deutsche Bank analysts report that the reduced operating profit forecast appears severe initially but preserves the company's cash generation capabilities.

    Why it matters

    The recent removal from the European blue-chip index compounds existing difficulties for the German carmaker as it deals with declining performance from luxury brands and Asian markets. The 1 percent profit forecast reflects a total of 9 billion euros in Porsche markdowns over the course of a year. Volkswagen's supervisory board previously approved a restructuring plan, but the latest financial downgrade increases the urgency of these internal changes.

    What is confirmed

    • Volkswagen has been removed from the Euro Stoxx 50 index following a share rout and a profit warning.
    • The automaker lowered its profit forecast to 1 percent.
    • Deutsche Bank analysts stated that the reduction to the operating profit forecast looks severe initially but keeps cash generation intact.
    • The 1 percent profit forecast involves a 6 billion euro Porsche goodwill write-down, which is the second such write-down in a year, alongside challenges in the China market.

    What to watch next

    • Execution and progress reports on the approved restructuring plan by Volkswagen's supervisory board.
    • Further analysis of cash generation and operational performance in Asian markets.
    Sources used for this update (7)

    1. www.cnbc.com — Europe News
    2. www.cnbc.com — Volkswagen's latest profit warning compounds exit from blue-chip index
    3. www.marketbeat.com — VWAGY News Today | Why did Volkswagen stock go down today?
    4. adalytica.com — Volkswagen Removed From Euro Stoxx 50 After Profit Warning
    5. finance.yahoo.com — Volkswagen Has Marked Down Porsche by €9 Billion in a Year ...
    6. stockanalysis.com — Volkswagen AG (VWAGY) Stock Price & Overview
    7. www.studioglobal.ai — Volkswagen’s Profit Warning Puts Its Restructuring Under ...
    confidence 100%
13. 45d ago

    Volkswagen removed from Euro Stoxx 50 following profit warning

    Volkswagen has been ejected from the Euro Stoxx 50 blue-chip index amid a worsening financial crisis. The carmaker lowered its 2026 profit outlook to 1% after reporting an 11.5 billion dollar hit linked to Porsche and operations in China. Management warned that the company has no time to lose as these problems intensify. The removal from the European index adds further pressure to the firm as it struggles with declining performance from its luxury brands and Asian markets.

    Why it matters

    The Euro Stoxx 50 tracks the largest and most liquid stocks in Europe. Being removed signals a decline in market capitalization and investor confidence. Volkswagen is currently fighting a downturn in China and unexpected losses from its Porsche subsidiary.

    What is confirmed

    • Volkswagen has been removed from the Euro Stoxx 50 blue-chip index.
    • Volkswagen warned that it has no time to lose as problems worsen.

    Still unconfirmed

    • Volkswagen slashed its 2026 profit outlook to 1% due to an 11.5 billion dollar hit from Porsche and China.
    • Porsche has transitioned from a crown jewel to a millstone for Volkswagen.

    What to watch next

    • Updated financial reports detailing the 11.5 billion dollar loss
    • Management announcements regarding cost-cutting or restructuring measures
    Sources used for this update (6)

    1. Motor1.com — Volkswagen Group Warns 'We Have No Time To Lose' As Problems Worsen
    2. CNBC — Volkswagen woes deepen as blue-chip index exit follows latest profit warning
    3. Automotive News — VW slashes 2026 profit outlook to 1% on $11.5 billion hit from Porsche, China
    4. Financial Times — Volkswagen ejected from European blue-chip index in blow to crisis-hit carmaker
    5. Reuters — Porsche's decline from crown jewel to millstone for parent Volkswagen
    6. finance.yahoo.com — Volkswagen exits Euro Stoxx 50 as index removal adds to pressure on troubled firm
    confidence 90%