Thyssen Krupp forcasts 500 Million loss

Germany’s largest steelmaker ThyssenKrupp downgraded its fiscal 2009 forecast after swinging to a worse-than-expected pretax loss in the second quarter due to pricing pressure and inventory writedowns. “The negative surprise was the outlook. They are telling us now that it would post a triple-digit million euro pretax loss before one-offs,” according to Commerzbank analyst Dirk [...]