DSV jumps as road freight recovery, buyback lift sentiment
BUZZ-DSV jumps as road freight recovery, buyback lift sentiment ** Shares in DSV DSV.CO jump 7.7% after the Danish freight forwarder posted its Q3 results, as improving service levels in its struggling road freight business and an earlier-than-expected share buyback reassure investors
** DSV said operations in its Road division had normalised towards the end of Q3, while announcing a 1.5 billion Danish crown ($225 million) share buyback
** Bernstein says the improvement in Road operations was the most important development, with on-time deliveries reaching around 94% in early October, approaching the company's 95% target
** Jyske Bank adds the key question was no longer how poorly Road had performed, but how quickly it could restore earnings by recovering lost volumes and improving productivity
** Jefferies says stabilising gross profit in Air & Sea should allow cost savings from the Schenker integration to drive earnings growth, while describing the buyback as better than expected
** Shares are on track for a best day since April 2025, if gains hold
($1 = 6.6603 Danish crowns)
(Reporting by Jesus Calero)
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