FRANKFURT Oct 5 Lanxess confirmed its
full-year earnings outlook on Friday following speculation that
the German rubber chemicals specialist was guiding market
participants lower about its business prospects.
Lanxess, which competes with Exxon Mobil in the
rubber market, said it continues to expect 2012 earnings before
interest, taxes, depreciation and amortisation (EBITDA),
adjusted for special items, to rise 5-10 percent.
Traders earlier pointed to market talk that Lanxess was
signalling to investors and analysts that its business was
weakening, dragging its shares as much as 2.7 percent lower.
The stock traded 1.2 percent lower at 0816 GMT, while the
STOXX Europe 600 Chemicals gained 0.4 percent.
According to Thomson Reuters StarMine, analysts earlier this
week lowered their predictions for third-quarter EBITDA, due to
be announced on Nov. 6, from about 295 million euros ($384
million) to 280 million euros on average.
($1 = 0.7689 euros)
(Reporting by Daniela Pegna, Frank Siebelt and Ludwig Burger)