STOCKS NEWS EUROPE-Raiffeisen top bank gainer on Q3 beat

Shares in Raiffeisen International (RIBH.VI), emerging Europe's No.2 bank, rise 4.5 percent to a three-week high of 45.46 euros, making them the top gainer in the DJ STOXX banks index .SX7P after forecast-beating quarterly profit.

The group beats all forecasts for third quarter net profit because Russia risk costs decline unexpectedly and interest and fee income rise.

"(The profit) beat was due to high quality items: better fees, lower costs and lower provisions," BofA Merrill Lynch analyst Cristina Marzea says in a note to clients. "We also note a strong result in Russia, which beat our estimates." For more double click on [ID:nLB118256]

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