FRANKFURT (dpa-AFX) - Following a weak outlook, ProSiebenSat.1 shares also failed to advance in their new index SDax on Wednesday. They were recently relegated to the small-cap index from the MDax of medium-sized companies. In the morning, the shares of the media group, the index's weakest performer, lost 6.8 percent to 5.72 euros.

Analysts at US bank Goldman Sachs criticized in particular the management's goal of only achieving a stable operating result on an adjusted basis in the coming year. According to industry expert Lisa Yang, the market had previously assumed growth in operating profit of eight percent. One trader also spoke this morning of weak 2024 targets compared to expectations.

The current fall in the share price has eroded the recovery recorded until the middle of the month. Since the beginning of the year, the shares have lost 31.5 percent of their value. From the end of July to the end of October in particular, the share price fell sharply, almost halving during this period. The fact that ProSiebenSat.1 expects a slight recovery in key advertising revenues in 2024 did not prove to be a driver in the middle of the week./ajx/ag