Shares in Cemex leapt 2.6%, Following Donald Trump’s confirmation of his plans to build a wall on the US/Mexican border.
The Mexican cement maker is one of the firm’s best positioned to profit from the US president’s $15 billion project, which has been reflected in its recent upsurge.
The company’s prospects were recently highlighted by Barclays’ analyst Benjamin Theurer, who said, “We expect a Trump-boosted pick up in volume”.
The analysis is based not only on the border wall project, but on the $500 billion Trump’s government is expected to spend on numerous US infrastructure projects in the coming years.
Commerzbank analyst Norbert Kretlow said, "The possibility for infrastructure investments is now a lot higher."
Seemingly on the strength of the pledges made by the newly-inaugurated president, shares in a number of aggregates firms and equipment manufacturers have also risen recently.
While estimates of the size of the border wall vary, one analyst predicted the 1,600 km wall would require around $1.2 billion dollars’ worth of cement, concrete and aggregates.