FLSmidth & Co. A/S, 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.