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STOCKS NEWS EUROPE-Henkel up on consensus-beating earnings

Reuters - UK Focus

Shares in Henkel (Other OTC: HELKF - news) rise 3.4 percent to the top of the German blue-chip index DAX after the consumer goods company reports stronger-than-expected first-quarter earnings, traders say.

The group, which makes Persil washing powder and Schwarzkopf hair products, said adjusted earnings before interest and tax (EBIT) increased 3.3 percent to 619 million euros ($862.45 million), overshooting analysts' expectations of 601 million euros.

"We continue to believe that the market under-estimates the cultural changes that have happened at Henkel and how these will continue to support superior organic EBIT growth delivery in the medium term relative to peers," Nomura analysts write in a note to clients. They recommend to buy the shares.

Reuters messaging rm://kirsti.knolle.thomsonreuters.com@reuters.net

($1 = 0.7177 Euros)