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FPE Fuchs Se News Story

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Basic MaterialsConservativeLarge CapSuper Stock

Fuchs rises after quarterly profit beat

** Shares in Fuchs FPEn.DE rise around 3% in early Frankfurt trade after the German car lubricants maker reported a beat on its Q3 core profit and confirmed FY outlook

** Fuchs reported Q3 EBIT of 117 million euros ($136.45 million), beating analysts' average forecast of 114 million euros according to a poll by Vara Research

** Jefferies highlights that the improvement vs Q2 alongside cost-avoidance measures came from a significant uplift in earnings across North and South America, describing the company's Q3 numbers as "solid"

** It says the impact of an unfavorable product portfolio mix has diminished over the past three months, while the regions continue to face challenges from a weak economic environment

** "Following a rather negative sentiment which has clouded the stock following the guidance downgrade in July, this print should provide some relief today," the broker says

** The stock is seen at the top of Germany's mid-cap index .MDAXI

($1 = 0.8575 euros)

 (Reporting by Ozan Ergenay)

 ((ozan.ergenay@thomsonreuters.com))

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