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Glance-STOCKS NEWS EUROPE-Nyrstar sinks ahead of 2008 results
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Stocks on the move Real (Frankfurt: A0N4R2 - news) -time Equity News
13:55GMT 20Feb2009-Nyrstar (Brussels: NYR.BR - news) sinks ahead of 2008 results
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Shares in Belgium's Nyrstar slump more than 8 percent on investor
jitters a week ahead of the company's full year results, after Paul Fowler
stepped down as Chief Executive Officer on Monday and was replaced by Roland
Junck.
The stock is down 6.9 percent. The losses are against the DJ Stoxx European
Basic Resources Index, which is down 5.5 percent in an overall bearish
market.
ING analyst Filip De Pauw cites the management shuffle just ahead of the
results as sparking the selling, along with generally poor market sentiment
especially for cyclical stocks.
'As an investor, you shouldn't feel comfortable when a CEO resigns one week
before results,' De Pauw says.
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