Renault announced on Thursday that Nissan's contribution to its own results was estimated at 225 million euros for the first quarter of 2024.

This announcement, which follows the Japanese automotive group's publication of results for its fourth quarter ended March 31, was well received on the Paris Bourse this morning.

Shortly before 10:00 a.m., Renault shares were up 1.7%, the biggest gain on a CAC 40 index that was down 0.1%.

Last month, the stock had suffered from the downward revision of its partner's annual financial targets, synonymous with a lower contribution to its results.

But its share price subsequently recovered, thanks to the announcement by the group with the diamond-shaped logo of first-quarter sales slightly ahead of expectations.

Following the recent restructuring of their alliance, Renault Group's stake in Nissan's capital has been reduced to 38.9%, including 16.2% directly held shares and 22.7% shares held in a trust.

The French group plans to eventually hold only a 15% stake in Nissan, compared with over 43% last year.

Nissan will continue to hold a 15% stake in Renault.

Renault is due to publish its first-half results on Thursday, July 25.

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