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STOCKS NEWS EUROPE-Lenzing leaps on Kepler upgrade

Reuters - UK Focus

VIENNA, April 24 - Shares in Austrian cellulose fibres maker Lenzing (Berlin: LEN.BE - news) leap more than 6 percent after Kepler Cheuvreux upgrades the stock to "buy" from "hold".

Kepler says it sees signs that viscose staple fibre (VSF) prices are bottoming out.

"On 23 April, prices increased by 4 percent... potentially indicating that an inflection point after 30 months of declining VSF prices has been reached," analyst Stephan Trubrich writes in a note.

Lenzing (Other OTC: LNZNF - news) shares are up 6.2 percent to 47.60 euros by 1215 GMT and are the second-top gainers in Austria's benchmark ATX index.

Reuters messaging rm://georgina.prodhan.thomsonreuters.com@reuters.net (Reporting by Georgina Prodhan)