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Steel recovery lifts Thyssenkrupp as market awaits Tata tie-up

Reuters  |  FRANKFURT 

By Christoph SteitzFRANKFURT (Reuters) - Thyssenkrupp posted higher-than-expected third-quarter group orders and profits at its steel business in Europe, which CEO Heinrich Hiesinger is hoping to merge with its counterpart at Tata Steel.Helped by a recovery in steel prices, the company posted a 14 percent rise in third-quarter order intake to 10.7 billion euros ($12.6 billion) and adjusted earnings before interest and tax (EBIT) of 620 million.Analysts had, on average, expected order intake of 10.3 billion euros and adjusted EBIT of 493 million."We are pleased by the recovery in earnings at ...

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First Published: Thu, August 10 2017. 12:08 IST