FRANKFURT (dpa-AFX) - Preliminary concerns on the market about the news from Thyssenkrupp gave way to a happy reaction in regular Xetra trading on Wednesday. The share price rose above the 7 euro mark for the first time since the beginning of October and was thus able to break away from a week-long sideways movement below this hurdle. Most recently, the premium amounted to a good 5 percent to just under 7 euros. This put Thyssenkrupp at the top of the MDax.

In an initial assessment, analyst Moses Ola from JPMorgan praised the industrial group's strong free cash flow. These were a good half above his and the market's expectations. The company had released far more working capital than expected. Market estimates for cash are now likely to rise accordingly.

However, Ola added that this was offset by lower-than-expected figures for Steel Europe and high value adjustments for the steel segment. The outlook for the coming year is in line with expectations. The operating result (EBIT) in the steel business is eleven percent below the consensus estimate, burdened by lower volumes and lower prices.

In pre-market trading on Tradegate, a rather reserved attitude had still prevailed. The shares had fallen slightly. With the end of the year approaching, shareholders can look forward to a good year for Borsen in 2023, with a current share price gain of a good 22%. This means that the share is clearly outperforming both the MDax of medium-sized boron stocks and the European industrial group sector./bek/nas/men