Stock markets back this Irish construction firm to build Trump's wall

CRH's shares soar to nine-year high after the election result...

Stock markets back this Irish construction firm to build Trump's wall

Tomas Munoz and Marta Saenz embrace near where the border wall meets the Pacific Ocean. Picture by Gregory Bull AP/Press Association Images

While the shock of Donald Trump's election has been bad news for stock markets in general this morning, one Irish firm has seen its shares soar to a nine-year high.

CRH, the largest producer of asphalt and third-largest producer of construction aggregates in the US, would certainly benefit if President Trump stays true to his promise to increase infrastructure spending. The US accounts for around 60% of the FTSE 100 group's profits, with 40% of that directly exposed to infrastructure.

Shares are up roughly 6% on both the Irish Stock Exchange and London Stock Exchange so far this morning.

It has been enjoying a bounce for some months already, as it was named in the media as being among the favourites to build Trump's wall to keep Mexicans out of the US.

The Dublin-based building materials giant rejoined the Euro Stoxx 50 in September, two years on from falling out of Europe's leading blue-chip stocks index.

The country's largest publicly-quoted company previously revealed it is targeting full year earnings in excess of €3 billion.