EU building materials sector upgraded

Credit Suisse upgraded the European building materials sector to "overweight" from "market weight".

Saint-Gobain was raised to "outperform" from "neutral" at Credit Suisse, which said that Europe's biggest supplier of building materials was "ideally placed to benefit from a cyclical economic recovery in Europe and the US".

Holcim, the world's second largest cement maker, and Wienerberger, the world's biggest brickmaker, were raised to "neutral" from "underperform", a team of analysts, lead by Harry Goad in London, wrote in a note to investors yesterday. Titan Cement, Greece's biggest producer of building materials, was cut to "underperform" from "neutral".