Ferrari trades lower on suspension of Middle East shipments

Investing.com -- Ferrari NV has temporarily suspended most shipments to the Middle East, the Italian supercar maker said Thursday. The company's Italy-listed shares are trading over 3.2% lower on Thursday. The U.S. shares are also losing over 2.5% in pre-market.

The suspension comes as nearly three weeks of hostilities in the region begin to affect luxury goods manufacturers.

"We are closely monitoring the developments in the Middle East and the potential implications for our business," Ferrari said in a statement to Bloomberg News.

The company has been managing a few deliveries via airplane, it said.

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