STOCKS NEWS EUROPE-Recticel gains after Q3 profit rise

Shares in Belgian foam maker Recticel (RECT.BR) gain for fourth straight session after sales decline slows and core profit improves in the third quarter and company forecasts a better net result in 2009. [ID:nWEA9858]

The shares are up 1.9 percent at 5.37 percent in a slightly firmer Belgian small-cap index .BELS.

KBC Securities says in a note that Recticel's comment that recurring EBITDA rose in the third quarter and over the first nine month was a positive surprise after declining in the first half, prompting the broker to raise its 2009 earnings estimates.

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