UPDATE 2-Henkel sees no clear signs of economic recovery

* Henkel refrains from guidance for 2010

* Eexpects to outperform its relevant markets in 2009

* Expects Q4 deceleration at its consumer businesses

* Sees further improvement in Q4 at its adhesives business

* Shares rise 0.3 percent (Adds detail, background and share price)

FRANKFURT, Nov 11 (Reuters) - Henkel (HNKG_p.DE) shied away from giving an outlook for next year on Wednesday, saying there were no signs for an overall economic recovery yet.

"There are still no clear signs of any imminent economic upturn, but markets have stabilised at a low level," Henkel said adding it was still difficult to assess the economic situation and how it would develop.

For the full-year, the maker of Schwarzkopf hair products and Pattex glues expects to outperform its relevant markets thanks to lower raw material costs and restructuring efforts and it sees further improvement at its adhesives business in the fourth quarter.

Henkel's Adhesives Technology business, whose Loctite glue is used in construction of the A380 superjumbo plane, already showed signs of recovery in the third quarter as sales decreased less than in the previous quarters.

Adhesives accounts for about half of Henkel's annual sales.

Local rival Beiersdorf (BEIG.DE) has also noted a trend reversal in its Tesa adhesives business with a slow recovery in the automotive industry and a stronger pick up in consumer electronics.

Henkel makes about 70 percent of its adhesives sales with industrial clients, like automotive and construction companies.

Overall, Henkel posted a third-quarter net profit of 172 million euros ($257.6 million), up from 101 million in the same period last year.

"The encouraging results registered in this last quarter reflect both the stabilisation in our markets and our programmes on structural and cost alignment," Chief Executive Kasper Rorsted said in a statement.

Henkel shares were up 0.3 percent to 32.49 euros at 0926 GMT, slightly underperforming a 1.06 percent rise in Germany's blue-chip DAX index .GDAXI.

"Henkel didn't specify a quantitative outlook for 2009 but did give in our view a positive outlook for the fourth quarter 2009," said DZ Bank analyst Heinz Mueller, confirming his "buy" rating.