Renault shares down over 8% after CEO arrested in Nissan scandal

Renault shares fell over 12 percent in morning trading on the news before recovering slightly to end down 8.43 percent at 59.06 euros.

Nissan, Renault's long-term partner, said it would ask its board to remove Ghosn as chairman after an inquiry uncovered "significant acts of misconduct," including reporting less than he was earning in Japan and using company assets for personal purposes.