November 10, 2016 / 10:22 AM / a year ago

European construction index climbs to nine-year high

LONDON, Nov 10 (Reuters) - European construction and materials index hit a nine-year high on Thursday on expectations that U.S. President-elect Donald Trump’s big plans to spend on infrastructure would help the region’s construction firms.

Trump has focused on the need to fix infrastructure, suggesting that spending could get a boost. He plans a $1 trillion infrastructure spending program over a decade.

The European sector index was last up 2.5 percent after hitting its highest level since late 2007. Shares in Irish building materials group CRH rose 5.6 percent, while Spanish builder and services provider ACS was up 4.2 percent. (Reporting by Atul Prakash; Editing by Alistair Smout)

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