STOCKS NEWS EUROPE-Arkema trims gains on weak visibility

Arkema (AKE.PA) shares fall nearly 8 percent as mixed third-quarter earnings from the French specialty chemical company leads investors to cash in after recent strong gains on the stock. Third-quarter core earnings or EBITDA rose 44 percent from the previous quarter to 101 million euros, which some traders say is at the top end of the forecast range, and Arkema increases its 2009 free cash flow target to 170 million euros.

"The group's positioning --limited exposure to emerging countries and considerable exposure to vinyl products-- continues to limit visibility on earnings," one Paris-based trader says.

Arkema shares are still up nearly 115 percent so far this year, and hit a 52-week high at 29.94 euros on Oct. 16.

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