CRH shares surge on Donald Trump spending pledge

CRH shares surged by 5% yesterday, on the back of both a record set of yearly earnings and US president Donald Trump’s reiteration of his promise to spend $1tn on US infrastructure improvements.

President Trump repeated that campaign promise at his first Congressional address, on Tuesday night. As the leading producer in the US of asphalt for motorway construction, CRH is viewed as a possible major beneficary of Mr Trump’s spending plans. However, the Dublin-headquartered building materials giant’s chief executive, Albert Manifold, said any benefit is likely to be seen over the medium, rather than short, term.

“We’re the largest buildings materials business in North America, so we’re well-positioned to benefit from any uplift,” he said.