Cemex stock suspended

Cemex stock suspended
Published: 04 October 2011

Trading in Cemex’s shares was suspended after a sharp drop on Monday caused by investor concerns about the group’s future, the Financial Times reports.

On the Mexican Stock Market, the cement manufacturer saw its shares lose 15%, hitting a 12-year trough of MXN 0.038. The sharp fall forced authorities to suspend trading while asks and bids caught up with the plunge. In New York, the group’s shares tumbled nearly 14%.

The steep fall came amid growing concerns that the Mexican group will not manage to meet its 2011 debt obligations.