Aurubis : Painful adjustment to commodity prices but we remain positive on the outlook
>Drop in metal result and sulfuric acid more painful than expected - The markets naturally penalised Aurubis yesterday with a close to 10% share price drop on a mixed Q3 release but also the expectation that the downtrend will continue in Q4. Restated for a one-off insurance gain, Q4 operating EBT (€ 115m) came in 13% below consensus due to the higher-than-anticipated impact of the drop in the main commodities processed by the group (apart from copper) and sulfuric a...Norddeutsche Steingut is a Germany-based manufacturer and distributor of tiles, concentrating on wall and floor tiles for the residential and commercial sector. As of December 31, 2011, Co. was operational through its two wholly owned subsidiaries Nord Ceram Fliesenproduktions und -vertriebs GmbH & Co. KG, which mass produces standard- and large-size floor tiles under the Pro brand for its own sale and for partners of the parent company; as well as Bremer Wandplatten GmbH, which produces floor and wall tiles under the BW brand. Co.concentrates on business activities in Germany
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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