Umicore hits almost one-year high after outlook upgrade

** Shares in Umicore UMI rise around 9% after the Belgian metals recycling company upgraded its financial outlook on Monday

** It now sees FY adjusted EBITDA in the range of 790 million euros to 840 million euros ($931 million - $990 million), above the previous expectations of 720 to 780 million euros

** Umicore also expects H1 adjusted EBITDA to come in somewhat above 420 million euros

** J.P. Morgan notes the guidance upgrade is a rarity in the sector these days

** "If current metal prices hold, FY25 EBITDA might end up at or even somewhat above the top-end of the guidance," JPM adds

** The share price hits almost one-year high

** The stock trades at the top of Belgium's BEL 20 Index (.BFX)

($1 = 0.8488 euros)