FRANKFURTDUESSELDORF, Nov 14 Reuters Core profit at Germany39;s biggest utility RWE jumped 82 in the first nine months, thanks to its commodity trading business and improved margins for its gasfired power plants, the group said on Tuesday.

Shares climbed 1.9 in morning trading and were among the top gainers in Germany39;s bluechip index. Still, the stock is down around 11 in the year to date.

Brokerages, including Deutsche Bank and Jefferies, called the results strong, and noted a capital markets day scheduled for the end of the month is expected to be a significant catalyst with regard to the group39;s renewables strategy.

The utility, which earlier this year acquired the clean energy business of Con Edison for 6.3 billion euros, said its generation portfolio grew by 5.7 gigawatts between January and September.

This has led to a significant increase in electricity production from renewables, which contributes to our growth in earnings, finance chief Michael Mueller said in a statement.

This positive trend will continue; we currently have projects representing around eight gigawatts under construction worldwide.

Goldman Sachs said any portfolio developments could trigger a major rerating in multiples, singling out the group39;s lignite division, which some investors have said should be carved out.

RWE confirmed its outlook and still expects adjusted EBITDA of 7.1 billion to 7.7 billion euros 7.6 billion to 8.23 billion and adjusted net income of 3.3 billion to…