FRANKFURT (dpa-AFX) - Nine-month figures and statements on annual targets sent Salzgitter 's share price up and down on Wednesday. After a jump in price to 24.50 euros, the paper of the steel manufacturer fell to 23.00 euros. In the process, the 21-day line at 23.56 euros, which signals the short-term trend, was breached.
The most recent loss was 1.5 percent to 23.16 euros. Since its high for the year in March at 41.64 euros, Salzgitter has lost almost half of its value at that time. The minus for the year 2023 amounts to almost 19 percent.
The slightly negative outlook for the year as a whole is a burden, commented stock expert Frederik Altmann of securities trading house Alpha. He referred less to Salzgitter's lowered target range for annual sales, but in particular to the forecast for the 2023 pre-tax result, which had been maintained and was below the Bloomberg consensus of the last 28 days. In addition, the nine-month figures had been surprisingly strong, but all the above pointed to a rather disappointing fourth quarter./ck/jsl/he