STOCKS NEWS EUROPE-Filtrona higher; trading in-line

Shares in Filtrona (FLTR.L) took on 5.7 percent after the British plastics and fibre products company says trading in the year-to-date trading was in line with expectations and that it was confident this trend would continue.

Banc of America-Merrill Lynch notes that Filtrona's tobacco-related activities have remained resilient, which is supporting the performance of its Filter Products and Coated & Security divisions.

The broker says, in a note, that Filtrona continues to focus on cost reduction, with all its pre-announced cost programmes on track.

Merrill Lynch says, however, currency has moved against the company slightly which it will need to adjust its estimates for, and it retains a "neutral" rating on the stock..

For more on Filtrona's trading update double click [ID:nWLA7541]

Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net