FRANKFURT (Reuters) - Germany’s HeidelbergCement 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 makes about a quarter of its sale in dollars.
HeidelbergCement shares rose 1.1 percent by 0514 ET, 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