There was little extra joy in Kuehne +Nagel’s third-quarter (Q3) and nine-month results (9M) for the bulls today, although the shares traded a whisker away from their 52-week highs of almost Sfr154 at the time of writing.

Its interim update was respectable and solid but well short of exceptional. Also, if you have followed our preview earlier this month, it was rather boring as far as the performance of its core air and sea units were concerned.

Nonetheless, there were bright spots mainly ...

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