Caterpillar shares creep up after reversing trend of slowing sales

Oliver Gill
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Caterpillar's 1st Quarter Profit Rises 45 Percent
Caterpillar's 10-week rolling sales grew for the first time in four and a half years (Source: Getty)

Shares in US heavy machine maker Caterpillar rose nearly three per cent this evening after investors were buoyed by its latest sales figures.

Global sales for the three months to the end of March were up one per cent, with the Asia Pacific region up 46 per cent.

Sales across the firm's other three geographical areas were lower on a rolling basis. But the overall increase was the firm's first positive movement since November 2012.

Caterpillar's shares hovered just below the $97 mark in the wake of the news, close to the a year-to-date high of $99 per share.

Read more: Caterpillar’s revenues take a hit as the drop in commodity prices weighs

In particular, it was the Asian construction sector that helped drive positive performance, with sales figures up 56 per cent.

In terms of energy and transportation retail sales, the oil and gas sector helped to reverse the downward trend, up 15 per cent.

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