Cimpor shares rise on road show, report

Cimpor shares rise on road show, report
07 September 2006

Shares in Cimpor rose 2.2 percent on Wednesday to their highest level since May, boosted by the cement maker’s current investor road show and a recent research report, traders said.

At 1051 GMT shares in Cimpor were up 2.06 per cent at 5.45 euros in busy trading volume. Lisbon’s benchmark PSI20 <.PSI20> index was down 0.12 per cent.

Cimpor has been promoting itself to investors in Scandinavia and Germany since Monday.

"The road show must be boosting the share price today," a local trader said.

BPI recently increased its price target for Cimpor to 6.7 euros a share from 6.3 euros and maintained a "buy" rating for the stock. "The recent research report might also be helping the stock," another trader said. 

Published under Cement News