FRANKFURT (dpa-AFX) - Shares in Rheinmetall have largely maintained their daily gains following the announcement of preliminary business figures. The shares of the automotive supplier and armaments group fluctuated significantly in the early afternoon of Friday, but were still up 2.7 percent at 207.60 euros. They thus remained among the best-performing stocks in the MDax. The index of mid-caps rose by 0.7 percent.

According to initial calculations, Rheinmetall posted a record operating profit last year. The margin is therefore likely to be better than previously thought. By contrast, organic growth is unlikely to have been quite as strong as expected.

According to Rheinmetall, this is due to both the slower recovery in global car production and the fact that some orders in the defence business have been postponed until 2023. According to one trader, this makes it important to note that the shift in sales from the fourth quarter of 2022 to the first of 2023 is not due to a lack of orders or order delays, but merely to delivery delays.

In trading, meanwhile, the current strength of Rheinmetall shares was attributed on the one hand to the foreseeable inclusion of the securities in the Dax. The major French bank Societe Generale (SocGen) had already indicated the day before that a delisting of the Linde shares was to be expected in the course of the first quarter and that Rheinmetall was expected to succeed it in the leading German index.

Secondly, the political decision to supply the Marder infantry fighting vehicle to Ukraine was cited. This would feed speculation that the Marder could eventually be followed by the Leopard main battle tank, despite all political concerns./la/niw/he