** Shares in Belgian metals recycling group Umicore UMI.BR are up 2%, paring earlier gains of nearly 5%, in a read-across effect from peer Johnson Matthey's JMAT.L divestiture of its catalyst technologies business
** Johnson Matthey announced the sale of its Catalyst Technologies division for GBP 1.8 billion ($2.42 billion) to Honeywell HON.O to streamline its business
** Broker KBC notes that JMAT expects growing profit for its Clean Air division in the upcoming year, which is also the core stronghold of Umicore
** "We considered the recent strategy update for Umicore to be comforting as well," KBC adds
** Another analyst contacted by Reuters says that JMAT seems to be positioning the remaining business to focus on cash rather than growth, possibly prompting Umicore's investors to be hoping for similar portfolio divestment measures
** Out of 18 analysts that cover Umicore SA, two rate the stock "buy," 13 "hold" and three or "sell"
($1 = 0.7448 pounds)
(Reporting by Johan Bodinier in Gdansk)
((johangeorgesroger.bodinier@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.