January 31, 2011 / 10:34 AM / 8 years ago

STOCKS NEWS EUROPE-Egypt exposure hits cement makers

European cement makers with a production base in Egypt are underperforming the STOXX Europe 600 Construction & Materials .SXOP index on fears that their activities in the country and the Middle East and North Africa region could be affected.

“The concern is that the long-term ramifications of the crisis will impact the operations and supply of the plants of companies in the region, such as Lafarge,” Royal Bank of Scotland analyst John Messenger says.

Shares in Italcementi ITAI.MI are down 3.5 percent, Titan Cement (TTNr.AT) shares are down 2.2 percent and Lafarge LAFP.PA shares are down 1.5 percent, while their European sector index is down 0.8 percent.

Reuters Messaging rm://greg.roumeliotis.thomsonreuters.com@reuters.net

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