FRANKFURT (dpa-AFX Broker) - Investors in RWE reacted positively to the utility's business figures on Tuesday. In pre-market Tradegate trading, the share price rose by 1.3 percent compared to the Xetra closing price to 36.80 euros. Based on the figures for the first nine months of the year, the utility exceeded expectations and confirmed its annual targets.

Analyst Alberto Gandolfi from the US investment bank Goldman Sachs praised the fact that 95 percent of the net profit targeted for the year as a whole was already on the books. He sees continued strong earnings momentum. Above all thanks to energy and commodity trading, RWE has achieved strong results, wrote analyst Ahmed Farman from investment house Jefferies. However, the fact that the Group has only confirmed its targets for 2023 may have disappointed some in the market, one trader pointed out.

RWE shares have performed poorly this year. Since the beginning of the year, investors have suffered a loss of almost 13 percent, measured against the previous day's close. This makes the shares one of the weakest stocks in the leading Dax index. Since hitting a two-year low at the beginning of October, however, they have been on the upswing again./ajx/mis