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Pendragon shares slump as U.K. car dealer warns on Brexit impact

Shares of Pendragon slumped 9% in London trade as the U.K. car dealer reported a “challenging” first half as revenue dropped 0.8% to £2.46 billion pounds and a £32.2 million underlying loss before tax. Saying the heightened political and Brexit uncertainty are weighing on consumer confidence, Pendragon said it expects a loss before tax at the bottom of its expectations.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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