FRANKFURT (dpa-AFX) - After a weak share price performance in the morning and the announcement of details on planned job cuts, Continental shares were among the ten biggest DAX gainers on Wednesday. The share price recently rose by 0.9 percent to 77.10 euros. Investors are apparently hoping that the cost-cutting measures will make the tire manufacturer and automotive supplier more efficient, as the Continental share price was still down at midday.

In the early afternoon of Wednesday, the Continental Group gave a more precise figure for the previously announced job cuts in the weakening automotive supply business; around 7150 jobs are to be cut worldwide. This corresponds to more than three percent of the total workforce. Around 5400 jobs are to be cut in the administrative areas and a further 1750 in the research and development network./tih/jha/