LG Elec shares jump ahead of earnings, on outlook

SEOUL, July 21 (Reuters) - Shares in LG Electronics Inc (066570.KS: ) jumped early on Monday ahead of its second-quarter earnings announcement, boosted by expectations of strong results and a solid outlook for the second half. At 0201 GMT, LG shares were trading up 5.5 percent at 115,000 won, leading the wider market's 3.5 percent rally. The stock rose as much as 6.9 percent at one point. LG, the world's No. 4 mobile phone maker, is set to report a sharp rise in quarterly earnings thanks to high margins at its mobile phone unit, brisk sales of TVs and solid results at its LCD joint venture. "The earnings momentum in the handset business will slow down in the third quarter but we still see stable performance given its rivals' difficulties," said Harrison Cho, an analyst at Mirae Asset Securities. (Reporting by Rhee So-eui;... [read full story]