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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Kier share price soars after HS2 green lit by PM Boris Johnson

The construction services company’s shares have surged more than 30% this week after the British Prime Minister Boris Johnson opted to move forward with the controversial HS2 rail project.

Kier Group has seen its share price surge by more than 33% this week after the British Prime Minister Boris Johnson announced that he will press forward with the controversial HS2 rail project.

Johnson’s decision came as a shock to investors, with the prime minister under pressure to ditch the project after its estimated cost rose to more than £106 billion.

Kier is trading at 136p as of 11:15 (GMT) on Friday, up from Monday’s opening price of 102p a share.

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Boris Johnson moves forward with HS2

On Tuesday, the prime minister opted to green light the HS2 rail project, telling critics in the House of Commons that ‘this country is being held back by our inadequate infrastructure’.

‘We can try to get by with existing routes from north to south, consign the next generation to overcrowding… or have the guts to take a decision, no matter how controversial,’ he added.

British construction industry boosted by HS2

Other British construction companies that have been contracted to carry out the HS2 project, including Balfour Beatty and Costain have seen their stock climb rise too, with the pair both up 9% to trade at 292p and 208p respectively.

You can go long or short Kier and other UK stocks with IG using derivatives likes CFDs and spread bets.

Balfour Beatty CEO Leo Quinn called the approval of the HS2 rail project a ‘bold’ move that will support the UK economy and help connect the country.

‘As the UK takes its place in global markets, improving our connectivity and competitiveness as a country and revitalising our heartlands has never been more important. Now the UK can clearly demonstrate it has thrown open its doors for business and investment,’ Quinn said.

‘HS2 is a bold regeneration scheme that is ready for implementation and provides a true legacy for the generations to come. We must invest in their future: drive new skills and capabilities; turbo charge small businesses across the country and show that the UK is determined to meet its carbon reduction targets,’ he added.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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