Rieter’s Shares Are Falling due to Bad Sales

Shares of Rieter, a Swiss manufacturer of textile machines, fell drastically after it got known that orders for machinery from Germany declined for a sixth month in April 2012.

Rieter dropped as much as 7.3 percent. The decline pushed the stock down 3.7 percent this year. Competitor OC Oerlikon Corp declined 2.3 percent.

Orders for German machinery, adjusted for inflation, fell 11 percent from a year earlier in April, according to data from the Frankfurt-based VDMA industry association. Domestic sales contracts dropped 14 percent, while export orders declined 9 percent. Germany is the largest national export market for Switzerland’s machinery industry.

Source: Bloomberg