CRH to join FTSE Eurotop 100 index after 38% share surge
Cavan-based company Kingspan to be added to FTSE EuroMid index
CRH’s strong earnings growth was helped by €8 billion of acquisitions in 2015. Photograph: Brenda Fitzsimons
Building materials group CRH is set to join the FTSE Eurotop 100 stock index in the middle of this month as the compiler of the index reviewed a series of indices tracked by fund managers internationally.
The FTSE Eurotop 100 is based on the most actively traded and highly capitalised stocks across Europe.
Shares in CRH have surged by 38 per cent in the past year, helped by strong earnings growth on the back of €8 billion of acquisitions in 2015 and hopes that the group will benefit from US president Donald Trump’s plans to beef up infrastructure spending in the world’s largest economy. CRH is the largest building materials company in North America.
European rival LafargeHolcim will also join the key index on the same date, March 20th.
Index provider FTSE Russell also added Cavan-based insulation products group Kingspan to the FTSE EuroMid index, after its share price jumped almost 26 per cent in the past year.
Meanwhile, Bank of Ireland has been added to a 12-member reserve list of companies that could be included in the FTSEurofirst 300 index should one or more of its members drop out in the coming months. Bank of Ireland’s share price has risen by 24 per cent in the past six months.