Ford shares down on Europe losses

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Shares in Ford have fallen 3.9% in early Wall Street trading on the rising cost of fixing its European business.

The US carmaker cautioned that 2013 losses in Europe would be $2bn, greater than its previous $1.5bn estimate.

The stock market reacted negatively, despite Ford reporting profits for the last three months of 2012 that beat expectations thanks to strong US sales.

Bob Shanks, Ford's Chief Financial Officer, told the BBC that the European market will grow in 2014.

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