Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Hochtief Hits 11-Month High on Leighton Profit: Frankfurt Mover

Don't Miss Out —
Follow us on:

Feb. 13 (Bloomberg) -- Hochtief AG, the German builder controlled by Spain’s Actividades de Construccion y Servicios SA, jumped to the highest level in 11 months after its Australian Leighton Holdings Ltd. unit returned to profit.

Hochtief shares climbed as much as 5.8 percent to 51.49 euros, the biggest increase in four weeks, and were trading 5.4 percent higher as of 9:38 a.m. in Frankfurt. That extends this year’s gain to 17 percent, valuing the company at 3.95 billion euros ($5.31 billion). Volume after less than an hour of trading almost matched the three-month daily average.

Leighton, Australia’s largest construction company, reported net income for 2012 of A$450 million as it completed major projects and reduced debt, propelling its shares to the highest gain in four years. The Sydney-based company completed a toll road in Brisbane and a desalination plant in Victoria, which along with Middle Eastern venture Habtoor Leighton Group had caused more than A$1.3 billion of losses and impairments.

Shares in the Australian company rose 11 percent to A$23.14 at the close of trade in Sydney. Hochtief holds 49 percent of the stock, according to data compiled by Bloomberg.

To contact the reporter on this story: Alex Webb in Munich at awebb25@bloomberg.net

To contact the editor responsible for this story: Simon Thiel at sthiel1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.