Traders betting on eurozone building stocks

Madrid

WITH the European Central Bank's stimulus programme showing limited success in boosting growth, speculation is growing that the region's governments will have to increase public spending. That's pushing traders to bet on construction companies.

An index tracking firms from France's Vinci SA to Germany's HeidelbergCement AG has rallied 20 per cent since a low in June, reaching an almost nine-year high and posting one of the biggest gains among Stoxx Europe 600 Index industries.

JPMorgan Asset Management and BNP Paribas SA are among those that have recently raised the prospect of more fi…