European cement makers jump on hopes for Trump infrastructure spending
06/11/2024 09:48
** European cement makers and building materials producers
shares rise as the market reacts to a projected Donald Trump win
in the U.S. presidential elections
** "Trump's victory suggests more focus on aggressive fiscal
policy, including infrastructure spending, therefore
beneficiaries are cement producers who sell precisely for
construction and infrastructure spending," says Kepler Cheuvreux
analyst Matteo Bonizzoni
** Buzzi BZU.MI , Holcim HOLN.S , Cementir Holding
CEMI.MI rise between 3% and 6%
** Buzzi, alongside Irish-based but U.S.-listed CRH CRH.N ,
is among the companies most-exposed to the U.S. market, with
Buzzi also benefiting from the third-quarter results, in line
with expectations, it reported on Tuesday
** CRH and Holcim have high U.S. exposure and tend to trade
well on Trump, Goldman Sachs analysts say
** Construction materials firms Saint-Gobain SGOB.PA and
Heidelberg Materials HEIG.DE rise between 3% and 5%
** Cement makers are also benefiting from prospects of
post-war reconstruction in Ukraine, a Milan-based trader adds
(Reporting by Alessandro Parodi, Philippe Leroy Beaulieu,
additional reporting by Giancarlo Navach)
((Alessandro.parodi@thomsonreuters.com))