Cemex Shares Jump After Boost From Infrastructure in Europe (1)

Cemex SAB’s profit surpassed analysts’ expectations in the third quarter as rising demand in Europe helped offset weakness in the domestic Mexican market and the US. Shares jumped.

The cement maker’s operating Ebitda, a measure of profitability, rose 16% on a comparable basis to $882 million. That was ahead of analysts’ estimate of $851.1 million.

Cemex stocks rose 8.08% at 8:59 a.m. in Mexico City trading on Tuesday, to 18.57 pesos per share, their highest value since January 2017.

Sales gains in Europe were driven by demand for infrastructure projects in eastern regions as well as Spanish housing activity, ...