STOCKS NEWS EUROPE-Temenos gains on upbeat sales outlook
Shares in Temenos trade at their highest since July 2011 after 2012 sales beat consensus expectations and the banking software vendor provides upbeat growth views for emerging market sales in 2013.
"The revenue and margin guidance midpoints are respectively 1 percent and 2 percent above 2013 consensus," says Kepler analyst Felix Levious. "Factoring higher top-line growth for 2013 and quicker margin recovery, we have lifted our 2013-14 earnings per share (estimates) by 5 percent on average."
Shares rise by 9.5 percent to 20.25 Swiss francs, outperforming a flat Swiss Mid Cap index.
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