Securitas slumps after weakness in Europe airport security hurt Q3 margins

** Securitas SECUb.ST shares fall 7% after the publication of Q3 results, with analysts flagging softer-than-expected margins

** Jefferies says that adjusted Q3 margin of 8.2% came in below consensus expectations of 8.3%, with weaker profitability in Europe and airport security reducing group margins by around 20 basis points

** Cautious demand trends overshadow strength in technology operations, the brokerage notes

** J.P.Morgan says that cash flows also were weaker again, mainly driven by working capital

** Given the stock had rallied into the results, Jefferies sees limited new confidence on improving commercial traction

** Up to yesterday's close, Securitas shares gained 6.9% in the last month — LSEG

** Shares on track for their worst day in three months