Reaction mass containing mixed oxides of iron with one or more metals of groups IV to VII of the periodic table of the elements, wherein the mixed oxides are deposited in finely divided form on an inert refractory substrate with a high specific surface area. The invention also relates to methods for the manufacture of this reaction mass as well as the use thereof as a catalyst for the shift reaction of carbon monoxide with steam, forming carbon dioxide and hydrogen at an elevated temperature, and/or the removal of sulphur compounds from gases.