Cemex Shares Surged: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: American depositary receipts of cement and concrete producer Cemex (NYS: CX) made concrete gain this morning, jumping as much as 10.6% on moderate trading volume.
So what: Construction materials are a red-hot commodity today thanks to banks coming together to rescue the ailing global economy, and Cemex is riding that wave. Other huge gainers in the global construction industry include gypsum giant USG (NYS: USG) , framing materials titan CRH (NYS: CRH) , and wallboard specialist Eagle Materials (NYS: EXP) .
Now what: In short, investors are holding out hope for a global construction boom once the whole banking mess has been sorted out. If a consortium of central banks can't put a dent in the out-of-control debts, I don't know what will. Here's hoping that the Fed and friends can deliver on today's promises so Cemex and others can cash in on a rebounding economic climate.
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At the time this article was published Fool contributor Anders Bylund holds no position in any of the companies mentioned. We Fools may not all hold the same opinion, but we all believe that considering a diverse range of insights makes us better investors. Check out Anders' holdings and bio, or follow him on Twitter and Google+. We have a disclosure policy.
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