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UPDATE 1-Rexam says FY expectations unchanged, shares jump

Tue Nov 18, 2008 4:10am EST

Stocks

   

* 4-month results in line, currency effects favourable

* Shares rise by over 4 percent

(Adds detail, shares)

LONDON, Nov 18 (Reuters) - Rexam (REX.L), the world's biggest drinks can maker, said on Tuesday its expectations for the full-year remain unchanged, sending its shares over 4 percent higher in early trade.

The British company, which employs some 22,000 people in more than 20 countries, said four-month results were in line with its expectations boosted by favourable currency results.

Rexam said, however, it is too early to say how the economic downturn will affect 2009 trading.

"We will continue to manage stringently those levers over which we do have control, including a rigorous focus on efficiencies and cost reductions," said CEO Leslie Van de Walle in a trading statement.

At 0845 GMT, shares in Rexam were up 2.6 percent at 325 pence, having earlier jumped over 4 percent. The wider FTSE 100 .FTSE was down 1.1 percent. (Reporting by Victoria Bryan; Editing by Rosalba O'Brien)



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