Renault cut to sell by Citi

Published: Jan 5, 2009 3:19 a.m. ET



D.C. bureau chief

LONDON (MarketWatch) -- Renault fr:013190 was downgraded to sell from hold by Citigroup, with the broker saying it's bringing Renault numbers into line with a prediction of European Union car sales dropping 15% this year. Renault's related companies will do even worse, and Renault likely won't pay a dividend, it said.