BUZZ-GKN: In-line update reassures market

** Engineering company GKN (LSE: GKN.L - news) 's shares up 2.7 pct, near the top of the FTSE 100, after reporting results in line with its expectations

** Co says Q1 sales up 12 pct at 2.18 bln stg, adds operating cash flow similar to a year earlier

** "Overall, we consider the update supportive for the shares following a 10% YTD underperformance leaving the shares on 10.4x NTM, a 30% discount to the UK industrials," RBC analysts say

** Shares (Berlin: DI6.BE - news) now trading above their 200-day SMA, having broken through level on Tuesday; half their daily avg vols gone through in the first two hours of trade

** Stock outperforming Stoxx 600 Automobiles and Parts Index , which is up 0.5 pct, and now at its highest levels this year (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)