FRANKFURT (dpa-AFX Broker) - After surprisingly good key data and confirmed annual targets, Lanxess shares shot up on Wednesday afternoon. With a plus of 19 percent, they left some chart resistances behind and climbed to their highest level since mid-May. Many market participants were somewhat skeptical going into the quarterly report at the beginning of August. Anyone betting on prices falling further has now been caught on the wrong foot. Short sales of this kind are increasing the buying pressure.

In his outlook a week ago, UBS analyst Samuel Perry, for example, was 5 percent below the operating profit consensus for 2024 of EUR 573 million. This corresponds to an increase of only 6 percent compared to 2023. However, Lanxess has now confirmed its ambition to increase EBITDA by 10 to 20 percent./ag/mis

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