HeidelbergCement sees benefits from Trump victory in medium term
FRANKFURT, Nov 9 (Reuters) - Germany's HeidelbergCement (Amsterdam: HC6.AS - news) sees benefits in the medium term from an expected renewal of U.S. infrastructure by presidential election victor Donald Trump after a period of uncertainty that will delay investment decisions.
"In 2017 in America we'll see first of all a brake on investments," Chief Executive Bernd Scheifele told reporters on a conference call after the company - one of the world's top cement and aggregates suppliers - reported quarterly results on Wednesday.
He said he expected a rise over time in the value of the U.S. dollar that would help compensate for investment caution. HeidelbergCement (LSE: 0MG2.L - news) makes about a quarter of its sale in dollars.
HeidelbergCement shares rose 1.1 percent by 1014 GMT, one of the few German blue-chip gainers, and the European construction and materials index rose 0.8 percent. (Reporting by Georgina Prodhan; Editing by Maria Sheahan)