FRANKFURT (dpa-AFX Broker) - Investors responded to Salzgitter's detailed quarterly results with a wave of buying on Tuesday. With a 3.9 percent gain to 52.90 euros, the shares took second place on the MDax, outperformed only by Jenoptik.
With this price increase, Salzgitter is once again approaching its recent high since 2011 of 58.45 euros. Analyst Cole Hathorn from Jefferies offered praise for the specifics regarding the company's guidance.
Operating profit (Ebit) is expected to rise significantly year-on-year in both steel production and steel processing. Profitability in steel manufacturing is projected to increase, bolstered by European Union regulatory measures./bek/stk/zb
