HeidelbergCement Rises on Faster China Projects: Frankfurt Mover
HeidelbergCement AG (HEI), the world’s third-largest maker of cement, gained the most in almost a week on optimism the Chinese government will accelerate domestic infrastructure projects.
The German company advanced as much as 1.16 euros, or 3.3 percent, to 36.36 euros in Frankfurt, the best performer on the country’s benchmark DAX 30 Index. Other European cement companies also rose, with market leader Lafarge SA (LG) gaining as much as 3.2 percent in Paris and Holcim SA of Switzerland increasing as much as 1.7 percent in Zurich trading.
China Securities Journal reported the Chinese government plans to speed up approval of infrastructure construction projects. Premier Wen Jiabao said yesterday the government will focus more on bolstering economic growth.
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