FRANKFURT (dpa-AFX Broker) - Strong price fluctuations characterized trading in Befesa shares on Thursday. After the recycler of industrial residual materials had published its figures for the third quarter in the morning, the papers sank by almost nine percent in the first minutes of trading, but quickly made up for the losses and finally rose by almost five percent to 27 euros.

However, this price gain was preceded by continuous losses since the beginning of the year: Since the high for the year at the end of January at 56.15 euros, the loss amounted to a good 54 percent. With a drop of almost 40 percent, the shares are the fourth biggest loser in the MDax mid-cap index in the current 2023 stock market year.

According to analyst Alexander Thiel of investment house Jefferies, the company could have put the worst behind it in the third quarter. He spoke of a "slight trend reversal after a weak first half." Lower input costs should help in the final quarter of 2023 and also 2024. The company itself expects strong growth in the coming year./bek/mis