35.69 +0.16 (0.45%)
Pre-market: 4:55AM EDT
|Bid||35.66 x 600|
|Ask||35.68 x 200|
|Day's range||35.24 - 35.61|
|52-week range||32.47 - 39.32|
|PE ratio (TTM)||12.86|
|Forward dividend & yield||0.82 (2.42%)|
|1y target est||24.01|
Irish building materials group CRH (CRH.I) launched its first share buyback programme in a decade on Wednesday and also announced a new target to raise 1.5-2.0 billion euros from selling assets. CRH said last year it would prioritise reinvesting capital in acquisitions but chief executive Albert Manifold floated the possibility of a share buyback in a media interview on Friday, sending its shares 4.1 percent higher. Manifold said on Wednesday the world's third-largest building group could do both, and would repurchase up to 1 billion euros of shares over the next 12 months, with the timing based on an ongoing assessment of capital needs.
Weaker sterling helped Britain's FTSE 100 (.FTSE) outperform European markets on Friday, while consumer giant Reckitt Benckiser tumbled after disappointing results and Shire declined as Allergan pulled out of the running to acquire the company. Sterling fell after Bank of England Governor Mark Carney dampened widespread expectations for an interest rate hike in May. The decline supported export-oriented large-cap stocks, which dominate the FTSE 100.
Ramped-up hiring in the construction industry has prompted us to focus on the sector. The construction space added 185,000 new jobs in the last four months.
CRH said that profit before tax increased 16% in 2017, as the building materials company benefited from a positive performance in Europe and the U.S.
Beacon Roofing's (BECN) acquisition of Allied Building Products Corp will make it one of the largest public wholesale building materials distributors in the United States and Canada.
Global demand for cement is back on an upward trajectory after years in the doldrums as developed markets recover in Europe and the United States, the head of the World Cement Association told Reuters. Pent-up demand in developed markets will increase global cement consumption by 1.5 percent next year, following an expected increase of 1 percent in 2017, Emir Adiguzel said. "Every year since 2009 cement industry demand has been going down," Adiguzel, who is also an executive at HeidelbergCement, said in an interview ahead of the association's annual conference in London.
European stocks recovered strongly from multi-week lows on Monday after the U.S. Senate passed a tax package delivering significant fiscal stimulus, which investors had anticipated would give extra legs to the bull run in equity markets. Gains in the U.S. dollar helped Germany's dollar-exposed DAX shoot up from a two-month low, up 1.5 percent. The pan-European STOXX 600 gained 0.9 percent while euro zone blue chips jumped 1.3 percent, their best gains in more than two months.
JOHANNESBURG/DUBLIN (Reuters) - Irish building materials firm CRH (CRH.I) has made a cash bid for cement maker PPC (PPCJ.J), taking on South African rival Afrisam [AFRSMV.UL] and Switzerland's LafargeHolcim (LHN.S). PPC, which did not disclose the value of CRH's non-binding offer, said on Monday it would give the Irish group time for due diligence and to submit an updated bid next week. The cement producer, which has been a consolidation target on-and-off for several years, said in a statement CRH's updated expression of interest would include a per share value, adding that its discussions with LafargeHolcim and CRH "may or may not lead to the submission of firm intention letters".
CRH Plc is among companies considering a counterbid for PPC Ltd. that could trump an offer by Canada’s Fairfax Financial Holdings Ltd., according to people familiar with the matter, adding a potential ...
By Danilo Masoni MILAN (Reuters) - European shares rose for the fourth consecutive week on Friday as confidence over the region's economic recovery outweighed worries over the Catalonia crisis, whose impact ...
Summit Materials Inc., the Denver-based construction materials company, made a rival bid to buy U.S. supplier Ash Grove Cement Co., according to people familiar with the matter, putting it in competition ...
Beacon Roofing Supply, Inc. announced today the expiration of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended , in connection with its acquisition of Allied Building Products Corp.