FRANKFURT (dpa-AFX Broker) - Strong first-quarter figures and confirmation of the profit target for the full year boosted Hochtief shares on Tuesday.

They rose 2.8 percent to 78.60 euros after the afternoon release, reaching their highest level so far in the day. However, the 21-day line for the short-term trend, currently at just below 79.20 euros, still lies like a lid on the paper.

The construction group reported a jump in profits for the first quarter. The North America and Asia-Pacific regions in particular, as well as the business of the Spanish highway operator Abertis, in which Hochtief holds around 20 percent, performed significantly better.

Thanks to a good order backlog, the company, which moved up from the SDax to the MDax on Wednesday, also confirmed its full-year target of a net profit of between 510 and 550 million euros, adjusted for special items./ck/zb

-----------------------

dpa-AFX Broker - Trader News from dpa-AFX

-----------------------