STOCKS NEWS EUROPE-Air Berlin seen up on strong Q3 results

Shares in Air Berlin (AB1.DE) rise 7.6 percent in pre-bourse trade, after Germany's second-largest airline releases solid third-quarter figures late on Tuesday, including a better than expected bottom line, while sales are slightly below expectations. "The better EBIT and EAT (earnings after tax) may set the note for share price development today. A buying signal will be created if the share manages to climb above the strong 3.65-3.70 euros resistance level," says a Frankfurt-based trader.

Analyst Uwe Weinrich from Unicredit says: "Air Berlin released exciting third-quarter results last night and confirmed its 2009 outlook. Management still expects a higher EBIT in 2009 than in 2008."

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