STOCKS NEWS EUROPE-Salzgitter rises; Citigroup ups to "buy"

Shares in Salzgitter (SZGG.DE) are 0.6 percent higher, making them one of the top gainers among German large caps .GDAXI after Citibank raises its stance on Germany's second largest steelmaker to "buy" from "hold".

"We raise our earnings estimates following revisions to our steel price forecasts," the broker says in a steel sector survey.

"Salzgitter's acquisitive growth was very successful in generating value over the cycle," the brokerage says, adding that the group is the only European steel producer without a high debt burden going into the downturn.

Reuters Messaging rm://tyler.sitte.thomsonreuters.com@reuters.net