1057 GMT - First-quarter results for European building-material companies beat expectations on sales and earnings, JPMorgan analysts say in a research note. Unsurprisingly, given the relative lower importance of the quarter to full-year results, guidance across the board was however maintained, the analysts say. Looking ahead, JPMorgan continues to have Heidelberg Materials on positive catalyst watch, whereas guidance remains conservative for CRH and Buzzi, the analysts say. Saint-Gobain remains a preferred pick given improving sequential trends, they add. On Geberit the analysts remain cautious, whereas for Sika there seems to be little reason to change views after JPM's recent downgrade, they say. Heidelberg Material shares trade 1.9% lower and Saint-Gobain drops 2.1%. Geberit and Sika trade down 2.3% and 2.9%, respectively. Buzzi falls 2.2% and CRH's London shares trade 1.9% lower. (nina.kienle@wsj.com)
(END) Dow Jones Newswires
May 21, 2025 06:57 ET (10:57 GMT)
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