STOCKS NEWS EUROPE-H. Hafen down on MSCI global exit

Shares in Hamburger Hafen (HHLA) (HHFGn.DE) are 4 percent lower after the company reports largely unspectacular third-quarter results and is coming under pressure from a removal from the MSCI German index.

"The nine-month figures were in line with market expectations and our estimates. Despite the fact that the operating development was weak with container throughput negative 35 percent over the first three quarters, the EBITDA margin of 28 percent held up quite well," says a Frankfurt-based trader.

A local trader points to MSCI having removed the stock from its MSCI World index .MSCIDE.

Exchange traded funds (ETFs) and other index-tracking funds which match the composition of the MSCI index will no longer hold onto shares in HHLA.

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