Friday, September 1, 2023

Salzgitter Shares Down After Suspending FY23 Outlook As Aurubis Says Won't Reach Target

Shares of Salzgitter AG (SZGPY.PK) were losing around 6 percent in the morning trading in Germany after the steel manufacturer Friday said that it is suspending earnings guidance for fiscal 2023 for the time being. The move follows the outlook revision by non-ferrous metal supplier Aurubis AG (AIAGY.PK), in which Salzgitter holds 29.99 percent stake.

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