Building materials group lifted by upgrade from Citigroup

Leading shares have lost early gains as the mining sector Рspooked by worries about China’s economy Рweigh on the UK market.

But building materials supplier Wolseley is bucking the trend, up 55p or 1.3% at £42.62 as Citigroup raised its recommendation from neutral to buy and lifted its target price from £41 to £47.25. The bank said Wolseley was well placed for the medium term given a positive outlook for the US economy despite the prospect of the Federal Reserve raising interest rates this year. It said:

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Source: The Guardian Circular Economy RSS