The US election also included 22 separate state votes to increase funding on transport and infrastructure, 70pc of which was passed. CRH estimates this could add an extra $40bn in funding.

“Up to last Tuesday, overall infrastructure spending in the US was going to increase by 13pc over the next five years,” Manifold said. Following the vote, he now sees an uplift of 21pc to infrastructure spending.

“We think that's very significant in terms of our business going forward in North America,” Manifold added. The US accounts for 60pc of the group’s profits.

Separately, the group reported a sales growth of 22pc in the nine months to September, compared with the previous year. Shares ended the day up 45p, or 1.7pc, at £27.46.

On the wider market, a broad-based rally lifted the blue chip index, with Mondi rising 47p to £15.58, BT advancing 11.3p to 373.4p and Barratt Developments inching up 16.5p to 486p. The FTSE 100 ended the day 44.99 points, or 0.67pc, higher to 6,794.71.