Salzgitter metallurgical shares fell by 10 percent

Salzgitter steel group announced that this year she would have to write off about 400 million euros of losses against the backdrop of a sharp drop in demand and deterioration in the European economy.

"The ongoing decline in many European countries exerts pressure on the European steel industry in the form of a structural crisis," the company said.

Investors reacted instantly: the cost of one Salzgitter AG campaign fell during today's trading by 10 percent - up to 25.86 euros, demonstrating the largest decrease since 2009.