A leading City broker has delivered its first take on the companies it thinks will flourish and founder under a Trump presidency.
Barclays Capital reckons the builder’s merchant Wolseley (LON:WOS) and plant hire specialist Ashtead Group PLC (LON:AHT) would be a beneficiaries of a boom in spending on infrastructure.
“Just under 50% of the US business is with construction customers, of which the significant majority are operating in non-residential construction – we view this end market exposure as leaving Ashtead very well positioned to benefit from any potential increases in infrastructure investment,” Barclays said.
Staffing companies could benefit if the US decides to repatriate manufacturing from low cost economies in Asia.
However Hays plc (LON:HAS) and PageGroup PLC (LON:PAGE) just don’t have the US exposure for this to move the dial, Barclays said.
A more inward-looking America steered by The Donald would be bad news for certification and companies such Intertek Group PLC (LON:IRTK), which thrive on globalisation and regulation.