Wendel slumps as weak dollar in private portfolio weighs on NAV

Shares in Wendel MWDP.PA fall close to 9%, hit by lower H1 net asset value

Wendel reports 4% drop in H1 NAV at 7.30 billion euros ($8.35 billion), from 7..61 billion euros a year ago

Degroof Petercam says NAV is 7% below its estimate of 180.1 euros per share as it "underestimated the FX impact from the dollar in the private portfolio"

The broker adds the results were hit by mixed results in private assets, with Crisis Prevention Institute and Scalian & Stahl posting weak results

Shares in Wendel are on track for their worst day since June 22, if losses hold

($1 = 0.8739 euros)