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BUZZ-CRH: UBS upgrades construction sector to "overweight"

Reuters - UK Focus

** Irish cement maker CRH (EUREX: 558474.EX - news) up 3.6 pct, top FTSE 100 gainer, after UBS (NYSEArca: FBGX - news) upgrades construction sector to "overweight" and names CRH as preferred pick

** UBS analysts expect higher nominal euro zone GDP, improving margins and high operational leverage to drive earnings growth of 13 pct in 2016, 8 pct in 2017 for companies

** "Costs (both labour and raw materials) seem set to stay fixed as top-line rises, causing a positive surprise," analysts say

** CRH's Dublin-listed stock also up 3.4 pct; shares on both listings at 6-wk highs

** UBS also likes HeidelbergCement (Other OTC: HDELY - news) , stock up nearly 1 pct (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)