Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

ThyssenKrupp Gains as Credit Suisse Sees Pickup: Frankfurt Mover

ThyssenKrupp AG rose the most in two months in Frankfurt trading as Credit Suisse Group AG said the expected disposal of its Americas unit, increased capital and an industry recovery will help revive Germany’s largest steelmaker.

The steelmaker climbed 3.2 percent, the most since May 3, to 15.095 euros for the best performance in Germany’s benchmark index. The anticipated Americas sale within a month plus a capital increase could see the stock “rally materially,” Credit Suisse analyst Michael Shillaker wrote.

Last month, ThyssenKrupp Chief Executive Officer Heinrich Hiesinger said he wouldn’t rule out a capital increase “for the next six to nine months.” The company is selling its Steel Americas operations to cut business units to five from eight, while expanding non-steel operations. Waning demand from the automakers and builders has shrunk prices and margins.

“The end game should be approaching soon” as sales of the units, speculation over rights issues and cartel probes come to a close, allowing investors to focus on the “cyclical earnings recovery ahead,” Credit Suisse said today in a research note.

ThyssenKrupp is studying selling its Steel Europe unit or merging it with another company, Sueddeutsche Zeitung reported today, citing people familiar with the matter it didn’t name. The company declined to comment.

“We have a problem in America. We don’t have a problem with steel,” Hiesinger said in February, calling Steel Europe an “affair of the heart.” The company is planning to save 500 million euros ($653 million) by reorganizing European steel and cutting more than 2,000 jobs to reduce capacity.

“I assume that ThyssenKrupp separates itself from Steel Europe sooner or later,” Ingo Schmidt, an analyst at Hamburger Sparkasse AG, said by phone from Hamburg.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.