STOCKS NEWS EUROPE-Holcim surges on forecast-topping Q3

Wed Nov 11, 2009 8:36am GMT
 
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Shares in Holcim (HOLN.VX) rise 3.9 percent, against a 1.1 percent gain on the DJ STOXX European construction index .SXOP, after the world's second-largest cement maker beats third-quarter profit forecasts and says it sees stimulus programmes helping North America return to growth.

"The foundations for profit were bolstered by cost cuts and lower raw materials and energy costs," say analysts at Swiss bank Wegelin. "Holcim seems to be well placed to profit from the markets it is targetting."

France's Lafarge (LAFP.PA) and Germany's HeidelbergCement (HEIG.DE) rise 1.8 percent and 1.3 percent, respectively.

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