Positive Q2 FCF boosts Lanxess shares
** Shares in Lanxess LXSG.DE rise around 4% as the speciality chemicals maker reported a positive quarterly free cash flow (FCF) along with its final Q2 results
** "2Q FCF probably not as bad as was feared," J.P. Morgan says
** Jefferies also highlights the positive FCF figure, adds all divisions beat consensus on adj. EBITDA level
** Lanxess reports a 5.6% drop in its Q2 sales on lower selling prices, but says free cash flow reaches 83 million euros ($90.69 million) after generating no cash flow a year earlier
** It confirmed its 2024 and Q3 forecast
** "There was a concern that the utilization increase will be a drag on working capital and FCF. This hasn't turned out to be the case," J.P. Morgan says, adding that this should likely reassure the market today
($1 = 0.9152 euros)
Reporting by Eva Orsolya Papp and Linda Pasquini
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