Lafarge gains momentum on Euronext

Lafarge gains momentum on Euronext
Published: 15 December 2009

The shares in French cement maker Lafarge gained 2.11 per cent to EUR 56.56 on Euronext Paris yesterday upon reassuring news from Fitch.

Yesterday, Fitch said it may upgrade the credit ratings of the major European construction materials makers. The credit rating agency expects a gradual improvement in the construction sector over the next 24 months. Lafarge has a long-term Issuer Default Rating (IDR) of BBB-, with a "negative outlook" from Fitch Ratings.