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STOCKS NEWS EUROPE-Lanxess seen down as Q1 outlook disappoints

Reuters - UK Focus

Shares in Lanxess (Other OTC: LNXSF - news) are indicated to decline 2 percent to the bottom of Germany's blue-chip DAX index, according to premarket data, after the synthetic rubber maker publishes a disappointing first-quarter outlook for 200 million euros ($278.19 million) of underlying core profit.

"The first quarter is weaker than expected. Despite good volume growth in the performance polymers segment prices remain low," DZ Bank Peter Spengler says in a note to clients.

Lanxess warns that the market environment will remain challenging this year, with overcapacity, weakness of the U.S. dollar against the euro and raw material costs continuing to bite. In addition, first-quarter earnings will be impacted by the effects of a strike in Belgium.

Reuters messaging rm://maria.sheahan.thomsonreuters.com@reuters.net