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Thyssenkrupp cuts outlook for capital goods, shares fall

Reuters  |  FRANKFURT 

By Christoph SteitzFRANKFURT (Reuters) - German industrial and technology conglomerate Thyssenkrupp cut the profit margin forecast for its key capital goods business on Tuesday, blaming a stronger euro and higher material costs. Shares in the group, which makes everything from submarines and chemical plants to steel and car parts, fell as much as 4.6 percent to the bottom of Germany's blue-chip index.While Thyssenkrupp confirmed its full-year profit guidance at a group level, the cut in capital goods - which includes elevators, car parts and the struggling industrial solutions unit - is a ...

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First Published: Tue, May 15 2018. 14:00 IST