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STOCKS NEWS EUROPE-Atlas Copco gains on upbeat outlook, stability in mining

Reuters - UK Focus

Shares in Swedish compressor and machinery maker Atlas Copco (Other OTC: ATLCF - news) rise more than 3 percent after the company says it sees slightly higher demand in the current quarter and stability in its hard hit mining business while posting lower than expected earnings.

"The disappointment we above all see in Atlas Copco's Compressor Technique unit is outweighed by a strong order intake, a positive outlook and a fairly good mining business, for which expectations have come down," Handelsbanken Capital Markets analyst Peder Frolen says.

Atlas Copco shares rise 3.2 percent at 1050 GMT, making it the top performer in the STOXX Europe 600 Industrial Goods & Services Index.

Atlas Copco's Swedish rival Sandvik (Other OTC: SDVKF - news) said last week that mining equipment demand had weakened further in the first quarter, while U.S. Caterpillar Inc (NYSE: CAT - news) , the world's biggest maker of mining and construction gear, cut the 2014 sales guidance for its mining unit.

Reuters messaging rm://johannes.hellstrom.thomsonreuters.com@reuters.net