FRANKFURT (dpa-AFX Broker) - A downgrade to "underperform" by Exane BNP weighed on the Rational share price on Wednesday. The shares lost 3 percent to 708.50 euros at midday, continuing the consolidation above the 700 euro mark. Previously, the shares of the commercial kitchen equipment supplier had risen by more than 40 percent from their low at the end of October.

In view of this brilliant recovery rally, analyst Sebastian Growe called the shares an "overcrowded long position". Any improvement in economic sentiment indicators, such as purchasing managers' indices, is now priced into the share price. Should medium-sized cyclical stocks attract the favor of investors, Rational shares could underperform./bek/mis