STOCKS NEWS EUROPE-Jardine Lloyd higher after update

Shares in Jardine Lloyd Thompson (JLT.L) gain 1.4 percent after the insurance broker issues a third-quarter trading update, with Numis Securities upgrading its rating on the stock to "buy" from "add".

The company says its performance in the three months to Sept. 30 2009 was in line with its expectations, and it remains on track to achieve its financial objectives and make further progress in 2009. [ID:nRnsK3118C]

"With potential revenue and margin gains yet to fully emerge from recent investment in existing areas of strength, we are confident that the near-term earnings growth outlook remains robust," Numis says in a note.

"The development of newer revenue initiatives offers exciting longer-term prospects," it says.

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