Electrolux rises on Q3 profit beat

By Reuters News

** Shares in Swedish home appliance maker Electrolux ELUXb.ST gain around 10% as its third-quarter comparable operating profit came in 5% above consensus

** JPMorgan highlights the beat resulted in a 2.7% margin against the 2.6% seen in consensus driven by cost efficiency of SEK 1.4 billion ($141.16 million) amid weak trading conditions

** It adds that another positive takeaway is the cash flow which improved to SEK 3.6 billion which helped to reduce leverage

** Citi notes the long-term equity story depends on how the company crystallizes benefits from its new US joint ventures

** Up to the previous session's close, shares were down 26%​ year-to-date; if gains hold, stock will see its best day since July





($1 = 9.9180 Swedish crowns)

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