Shareholders of Swiss cement maker Holcim paved the way for the planned merger with French rival Lafarge SA by approving a capital increase needed for the deal.

Holcim Ltd and Lafarge SA reached an agreement to adjust merger terms in an effort to salvage their bid to form the world’s biggest cement maker, leaving open the contentious point of who will be chief executive.

FRENCH stocks fell amid speculation that interest rates worldwide will rise.

Lafarge SA, the world’s biggest cement company, said second-quarter sales rose 6.9% on gains in France, Germany and Asia and as drier weather in north America enabled construction projects to pick up.

IRELAND’S record breaking residential building boom helped to boost profits at CRH by €100 million since January but the boss of the building material giant says the boom cannot last indefinitely.