Thyssenkrupp shares hit 3-year low as economic uncertainty bites – Financial Times

Thyssenkrupp shares fell to a three-year low on Tuesday after the company warned that economic and political uncertainties were growing as it unveiled disappointing results.

The German industrial group, which produces a range of products from steel to elevators, reported a sharp 37 per cent drop in operating earnings in the last three months of 2018 the first quarter of the companys financial year.

This sparked investor concern as the group took a hit from higher start-up costs for projects, higher material costs in China and tariffs on imports to the US.

Guido Kerkhoff, who became chief executive in July, insisted that fundamental growth drivers are intact and confirmed that the group was still aiming to achieve adjusted operating e…

Read the full article at: https://www.ft.com/content/c7861dbc-2e91-11e9-8744-e7016697f225

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