Davy Morning Equity Briefing
Dec 08, 2025
CRH
To enter the S&P 500 index later this month
CRH’s inclusion in the S&P 500 index later in December is well-deserved recognition of the company’s place as the US’ leading provider of construction materials. Its addition to the index could create demand for c.17% of outstanding shares, and we expect the announcement to catalyse a further re-rating (and outperformance) relative to peers.
Economics weekly
Federal Reserve poised to cut again this week
While the US Federal Reserve is widely expected to cut rates this week, its updated projections could disappoint financial markets. US corporate profitability remains strong despite some weakness in terms of labour demand. Elsewhere, UK GDP and Ireland’s employee payrolls are due for October; we see downside risk to the consensus for an increase of 0.1% for UK GDP and expect continued annual growth in Irish employee payrolls of above 2%.
