Cimpor shares rise on road show, report

Cimpor shares rise on road show, report
Published: 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.