Volkswagen shares are plunging

Share traders are in for a busy day, there’s lots of action as markets open in Europe.

Volkswagen stock crashed almost 10% after the company revealed another problem with its emissions on Tuesday evening. The company said it identified “irregularities in CO2 levels” with as many as 800,000 vehicles be affected across the entire group.

Here’s what that did to shares:

Meanwhile, Glencore, the troubled commodities trading and mining giant, said it was on track to beat debt reduction targets, after paying down almost $US2 billion in bonds and buying back a further $US400 million in debt from creditors.

The stock jumped nearly 7% on the news:

Here’s the European markets scoreboard as of 08:25 a.m. UK time:

UK’s FTSE 100: +0.67%

Germany’s DAX: -0.33%

France’s CAC: +0.36%

Spain’s IBEX: +0.90%

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