Cemex poised for major advance

Bloomberg are reporting that Cemex SAB has dropped to a three-year low ahead of a potential increase in US interest rates by the Federal Reserve.

This is making Cemex a buy to JPMorgan Chase & Co. and Vector Casa de Bolsa SA brokerage.

Cemex is however set to advance 80% in the next 12 months, the most on the benchmark IPC index of 35 Mexican stocks, as it nears its first annual profit in seven years.

Jorge Perez, a spokesman for Monterrey, Mexico-based Cemex, has refused to comment on its share performance and forecasts. Shares rose 1.7% to 9.1 pesos at the close of trading in Mexico City.

Edited from source by Joseph Green. Source: Bloomberg

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