Mexico's Cemex surges as U.S. removes dumping tariffs

07/04/2009 12:00 - 635 Views

MEXICO CITY, April 2 (Reuters) - Shares in Mexico's Cemex (CMXCPO.MX) surged 14.93 percent to 10.70 pesos on Thursday after the United States removed anti-dumping tariffs on Mexican cement, ending a 15-year-old trade dispute, traders said.

The Mexican stock exchange briefly suspended trading in its shares due to the sharp rise.

Cemex's U.S.-traded shares (CX.N) gained 16.57 percent to $7.74.

The stock was also supported by expectations that Cemex, which faces looming dollar debt payments, would be able to benefit from the central bank's decision to tap a $30 billion currency swap line with the U.S. Federal Reserve to help local companies.

(Reporting by Michael O'Boyle, editing by Maureen Bavdek)

((michael.oboyle@thomsonreuters.com; +5255-5282-7153; Reuters Messaging: michael.oboyle.reuters.com@reuters.net))

Keywords: CEMEX/Thu Apr 2, 2009 4:07pm BST

Source: uk.reuters.com