FLSmidth Rises as PFA Sees Positive News Flow: Copenhagen Mover

FLSmidth & Co. A/S (FLS), the maker of cement and mining equipment, rose to its highest in more than week as investors sought out stocks that give them exposure to a turnaround in the global economy.

FLSmidth rose as much as 2.9 percent to 266.30 kroner, the highest since June 28. Shares in the Copenhagen-based company gained 2.7 percent to 265.70 kroner at 12:58 p.m. in the capital. Volume was 81 percent of the three-month daily average

“The news flow is overall positive in both the U.S. and the rest of world,” Henrik Henriksen, chief strategist for PFA Pension, said in a note to investors. “We prefer still stocks ahead of bonds in our portfolio for the next three to six months.”

Global aluminum demand will rise by 7 percent this year, led by 11 percent growth in China, Alcoa Inc. said yesterday, reiterating earlier guidance. The largest U.S. aluminum producer also reported better-than-expected results, triggering gains in mining companies BHP Billiton Ltd. and Anglo American Plc.

To contact the reporter on this story: Frances Schwartzkopff in Copenhagen at fschwartzko1@bloomberg.net

To contact the editor responsible for this story: Tasneem Brogger at tbrogger@bloomberg.net Christian Wienberg at cwienberg@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.