FRANKFURT (dpa-AFX Broker) - Südzucker came under considerable pressure on Friday following a double downgrade by Warburg Research. In the afternoon, they were the weakest stock in the SDax, down 6.4 percent at EUR 13.16 and thus slipped below the support level of EUR 13.40 to 13.50.

The previous day, the shares had closed slightly weaker in volatile trading following quarterly figures. This Friday they were clearly in the red from the start.

Südzucker is facing an erosion of profits, wrote analyst Oliver Schwarz from Warburg Research in a recent study, referring to the development at the ethanol subsidiary Cropenergie and in the sugar segment. Schwarz gave up his buy recommendation and now advises to sell./ajx/mis

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