Cement News tagged under: corporate
Mexican stocks fall23 September 2008, Published under Cement NewsMexican stocks fell sharply on Monday on concerns a costly US bailout plan for troubled financial institutions may not resuscitate a slumping economy and surging oil prices added to worries about growth. The benchmark IPC stock index closed 2.21 percent lower at 25,131.91 points. The peso firmed 0.4 per cent as the greenback declined broadly on worries the credit bailout would bloat the already massive U.S. deficit. The proposal would amount to the costliest US bailout for financial compan... |
Holcim drops after being pushed higher by Eurocement23 September 2008, Published under Cement NewsHolcim dropped the most in at least 18 years in Zurich trading after hopes of a takeover by Russian investor Eurocement Group faded. Holcim slid back 18 per cent to 90 Swiss francs. Today’s decline pared the stock’s 24 per cent advance on Sept. 19, when Russia’s largest cement company announced it had taken a 6.52 percent stake. Eurocement, owned by Filaret Galchev, has informed Holcim that the stake is a long-term investment and they don’t plan to seek control. We have invested in Holci... |
European markets likely to open lower on weak global signals23 September 2008, Published under Cement NewsMost major European markets area likely to extend their losses Tuesday, tracking Wall Street’s plunge overnight amid uncertainties related to the US$700bn bailout plan for failing financial firms. The major Asian markets have turned mixed after a weak start on Tuesday. Additionally, the major European index futures are showing weakness (reports Real time Traders). Economic reports scheduled for release in Europe include the French consumer spending, the Italian consumer confidence index, an... |
Thailand: Brokers bullish on Siam City Cement22 September 2008, Published under Cement NewsSiam City Cement (SCCC), the country’s second biggest cement-producer, is expected to show solid earnings growth over the next two years despite higher operation costs, The Nation reports. Capital Nomura Securities (CNS) revised its buy rating for SCCC shares though it was being oversold with bad news priced in. The SCCC stock on Friday closed at Bt166, up 3.11 per cent from the previous trading day. The broker expected demand for domestic cement to increase by two per cent during 2009-201... |
Semen Gresik expects earnings to rise 15 per cent18 September 2008, Published under Cement NewsPT Semen Gresik estimates its income by the end of this year will reach Rp11trn (US$1.2bn) or up by 15 per cent from around Rp9.5trn last year, the company’s chief said. "In the second semester of this year, demand has been low but it is expected to rise again in September and remain high until year end," the company’s president director, Dwi Sutjipto, said. Accordingly, the company hoped its net profit this year would at least be the same as last year, he said. Dwi said the company’s fin... |
Ultratech Cement director resigns18 September 2008, Published under Cement NewsUltratech Cement Ltd director Santrupt Misra has resigned from the board, while S B Mathur has been appointed additional independent director. Director V T Moorthy will now be considered as an independent director. |
Mandiri provides another IDR150bn non-cash loan18 September 2008, Published under Cement NewsPT Bank Mandiri Tbk agreed to provide additional non cash loan transaction to PT Semen Padang as from IDR75bn into IDR150bn to support the company business. President Director of Bank Mandiri Agus Martowardojo said the additional facility is deemed the company commitment to keep increasing the non cash financing service in addition to the cash financing. "In addition, the company also provides distributor financing with IDR260 billion scheme for Semen Padang distributor both for non cash a... |
Cement shares in freefall18 September 2008, Published under Cement NewsWith financial markets in turmoil and a deteriorating outlook for global construction activity, shares in many of the leading cement companies have tumbled. Of the majors, Cemex has been the worst affected and its shares have hit a new low for the year, with latest trades showing at 18.63 pesos per share, a 48.2 per cent drop from this year’s peak. This compares with similar steep declines of 46.5 per cent for Italcementi, 44.4 per cent for CRH and 42 per cent for Buzzi Unicem. The tw... |
GBL Bought EUR57.55m Worth Of Lafarge Shares Sept 2-516 September 2008, Published under Cement NewsBelgian Financier Albert Frere’s holding company, Groupe Bruxelles Lambert, bought a total of EUR57.55m worth of shares in Lafarge between Sept. 2 and Sept. 5, according to filings Monday with stock market watchdog the AMF. According to the filings, GBL bought EUR8.28m worth of shares at EUR82.78 a share Sept. 2, EUR8.51m worth at EUR85.095 a share Sept. 3, EUR16.53m worth at EUR82.65 a share Sept. 4 and EUR24.23m worth at EUR80.76 a share Sept. 5. GBL also sold EUR500,869 worth of put op... |
CIMA projects higher profit for this year, Malaysia16 September 2008, Published under Cement NewsCement Industries of Malaysia Bhd(CIMA) which registered a pre-tax profit of RM85.4m last year is projecting a higher profit for its financial year ending December 2008, citing a higher demand for cement in the domestic market as the base for its confidence. Managing director, Che Halin Mohd Hashim when met by Bernama said the upcoming economic corridor projects had also boosted demand for cement. While Che Halin could not give the specific profit projected, he said it would be more than l... |