Shares in France“s Saint-Gobain ended 1.5% lower recently at Euros 131 (FFr 859.30), bringing their fall to almost 30% in just over two months, the fourth-sharpest fall among CAC 40 stocks. Moreover,…
Shares in France“s Saint-Gobain ended 1.5% lower recently at Euros 131 (FFr 859.30), bringing their fall to almost 30% in just over two months, the fourth-sharpest fall among CAC 40 stocks. Moreover, on March 20 the share will be officially delisted from the Euro Stoxx 50, the index of the main shares of the Euro zone, in which it had the lowest weighting. According to a report, Saint-Gobain is suffering from its status as a cyclical share against the current background of enthusiasm for “new economy” stocks. Experts agree the group“s management cannot be blamed for the share“s performance, it said. Saint-Gobain“s most recent operation, the friendly bid for Meyer of the UK, was well-received by professionals. Furthermore, the group is seen as profitable, the report added. According to Standard & Poor“s: “in the construction materials sector, it is one of the most profitable groups in the world.” Prospects are good too, with double-digit growth forecast for the coming years.