Share Renault goes off the rails

- The price of Renault was hit hard today after news that the French carmaker subject of an investigation by the French authorities to shoddy emission values.

According to reports, investigators have seized computers during searches of offices of Renault.

Follow here LIVE a fall in Renault

A union official told AFP that the case first reported that investigators have computers seized during searches of offices of Renault. Those searches would have occurred last week.

The case is reminiscent of the diesel scandal at Volkswagen. Using pirated software diesel cars from Volkswagen in laboratory tests appeared cleaner than they really are.

On the Paris stock exchange investors reacted very troubled by the reports about Renault. The share sank Thursday in the early afternoon as 20 percent. That was the biggest mid-exchange loss for Renault since 2008.

Renault declined to comment on the reports. The French Ministry of Economic Affairs, which would examine the matter, refused to go into the matter.

The French auto group PSA Peugeot Citroen said in October that it never has used sjoemelsoftware in emission values.

On the Paris stock exchange, investors were very disturbed by reports about Renault. The share plunged around half a whopping 20.2% down to € 68.60.

Click here for all the articles about the scandal at Volkswagen.