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Lanxess rises as Q3 beat offsets guidance cut

By Reuters News

** Shares in Lanxess LXSG.DE rise around 4% in early Frankfurt trade after the German speciality chemicals maker reported slightly better-than-expected Q3 results despite lowering its FY earnings guidance

** Lanxess' Q3 EBITDA pre-exceptionals rises by 11.2% to €139 million, compared with analysts' estimate of €138.2 million in a company-provided poll provided

** The company now expects its FY EBITDA pre-exceptionals at the upper end of €450 million to €500 million, compared with its previous forecast of €450 million to €550 million

** J.P. Morgan says the slight earnings beat, materially stronger free cash flow and implied Q4 EBITDA of €90 million to €100 million should support the shares

** "Statements on free cash flow may help shattered shares despite FY guidance adjustment," a local trader says

** The stock is seen at the top of Germany's mid-cap index .MDAXI



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