Shares in Dublin-based business support services group DCC (Other OTC: DCCPF - news) climb 4.5 percent, boosted by the company's strong performance in its last financial year and its outlook for the coming twelve months, which analysts said could lead to upgrades.
DCC, which distributes products ranging from oil to medical devices and is expected to be included in the FTSE 250 (FTSE: ^FTMC - news) from June, says it expects operating profit to grow by 10 to 12 percent during this financial year, after posting operating profit which was 21 percent higher last year.
"We believe the results will be well received by the market with consensus upgrades likely to follow," Goodbody analyst David O'Brien, who has a "buy" rating on the stock, says.
"This coupled with index buying ahead of the stock's FTSE inclusion underpins our positive stance on DCC."
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