Saint-Gobain's House Of Glass

Date: 18 October 2007

Forbes reported that European construction-materials companies had a fragile day on the stock market Friday, cracking under pressure from negative analyst sentiment surrounding France's Saint-Gobain.

Credit Suisse analyst Arnaud Lehmann downgraded the glass, materials and packing products firm to "underperform" from "neutral," citing weakening residential market opportunities in Western Europe and a slowing U.S. economy. He added that more than 80% of the company's sales could be affected.

Saint-Gobain slid 2.58 euros ($3.66), or 3.4%, to 72.34 euros ($102.51), during afternoon trading in Paris, dragging the sector down with it. Construction materials firm Lafarge (other-otc: LFRGY - news - people ) fell 2.19 euros ($3.10), or 1.9%, to 116.74 euros ($165.40), while rival Vinci (other-otc: VCISF - news - people ) tumbled 1.67 euros ($2.37), or 3.0%, to 53.30 euros ($75.52).

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Forbes

2007-10-18T13:00:00

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