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STOCKS NEWS EUROPE-Lafarge dips as Q3 slumps

Fri Nov 6, 2009 4:31am EST

Stocks

   

Shares in the world's biggest cement maker Lafarge (LAFP.PA) drop 3 percent, featuring among the top losers on Europe's FTSEurofirst 300 .FTEU3 index, after the company says sales and profits slumped in the third quarter.

"Sales are slightly lower than what we had expected," CM-CIC analysts write in a note. "(But) the better-than-expected resilience of the margins in mature markets could turn out to be a real driver as soon as demand will stabilise."

Despite Friday's drop, Lafarge stock is still up 50 percent so far this year, outpacing the DJ STOXX construction index .SXOP, which is up 28 percent over the same period.

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Reuters Messaging rm://blaise.robinson.reuters.com@reuters.net


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