Economy & Market
US cement stocks gain as Trump okays Mexico wall
US stocks have hit record highs, with miners and suppliers among the top gainers, as US President Donald Trump signalled that construction of the Mexican partition wall, a key election promise, would start within months.
Gainers included Martin Marietta Materials, which hit a record high and ended up 3.2 per cent, and Vulcan Materials, which surged 2.2 per cent, another record high.
Construction materials companies also gained, with Eagle Materials up 4 per cent, US Concrete 4.4 per cent and Summit Materials was up 3.5 per cent.
US listed shares of CEMEX rose 3.7 per cent to reach another high. Analysts believe that CEMEX would be one of the companies best-positioned to profit from a wall that could cost $15 billion by current estimates. CEMEX has operations along both sides of the US-Mexico border.