STOCKS NEWS EUROPE-CRH shares fall after FY forecast

Shares in CRH (CRH.I) fall after the Irish building group say poor weather and cost cuts would push full-year profit down by more than 50 percent, below analysts' expectations, in the first forecast it has made this year. [ID:nL340582]

Shares in the Dublin-based group, which represents around one-third of the Irish stock exchange, were down 3.7 percent by 0944 GMT.

"The market is a little bit disappointed, there were one or two little surprises that were slightly negative..." one Dublin-based trader says.

"The numbers are a little bit shy for the current year but a lot of the (cost cutting) actions which were talked about will kick in next year and there's a lot more confidence about the 2010 numbers," the trader adds.

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