STOCKS NEWS EUROPE-MLP gains on solid Q3 figures

Shares in MLP (MLPG.DE) add 2.7 percent, making them one of the biggest gainers among German midcaps .MDAXI, as the financial services provider releases solid third-quarter results which include stronger-than -expected revenues and a better-than-expected EBIT margin.

JPMorgan says in a client note that assets under management (AUM) in the third-quarter is the highest since 2004.

DZ Bank analyst Thorsten Wenzel also points to the solid results, but says valuations are currently high for the company.

"MLP is in our view solidly positioned in the current environment with its high-quality adviser base and a high share of variable costs. However, given the muted outlook we still feel that the valuations is fairly ambitious," Wenzel says.

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