STOCKS NEWS EUROPE-Kuehne & Nagel rise on UBS "buy"

Shares in Kuehne & Nagel (KNIN.VX) rise 3 percent, the biggest gainer in the broader Swiss blue-chip index .SLI, after UBS starts coverage of the Swiss logistics group with a "buy" rating.

"We expect Kuehne & Nagel to gain market share in its core business, seafreight, in 2009," UBS says in a note.

Shares in rival Panalpina (PWTN.S) also gain, up 1.4 percent.

"We forecast a U-shaped recovery by 2010 and think the long-term sector trends remain favourable. We expect the asset-light forwarders to benefit once volumes recover," UBS says. Reuters Messaging rm://katie.reid.reuters.com@reuters.net