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Hapag-Lloyd Raises Earnings Guidance Amid Elevated Spot Freight Rates

Hapag-Lloyd Raises Earnings Guidance Amid Elevated Spot Freight Rates
Hapag-Lloyd previously upgraded its guidance both in September and July, citing strong market demand and higher freight rates. Ludovic Marin/Agence France-Presse/Getty Images
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Original Coverage & Source Attribution: www.wsj.com

Hapag-Lloyd HLAG -1.38%decrease; down pointing triangle raised its full-year earnings guidance again as spot freight rates remain elevated, noting that fourth-quarter performance is developing better than expected.

Shares rose 3.3% in midmorning European trade.

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