Shares in building materials group CRH opened almost 5pc higher this morning on the Irish Stock Exchange.

The share price in Ireland’s largest company advanced to €27.40, higher than any close since October 9, and up from €26.18 in the previous session.

Trading volume was more than 19 times the 20-day average for this time of day.

The jump in share price – moving it to its highest level in 17 weeks – comes on the back of news that Cevian Capital, Europe’s biggest activist investor, has built up a stake in the group.

Founded in 2002, Cevian Capital is an international investment firm that acquires, what it describes as “significant ownership positions” in publicly-listed European companies, “where long-term value can be enhanced through active ownership.”

Today Cevian manages more than €13bn in investments.

In the nine months to 30 September 2018 CRH reported earnings before interest, taxation, depreciation and amortisation (EBITDA) of €2.5bn.

(Additional reporting Bloomberg)

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