London-listed gold, defence and infrastructure firms are in line for a “Trump bump” as the controversial president-elect prepares to enter the White House.
The Share Centre said UK-listed stocks are likely to reap rewards from rising uncertainty, a falling Mexican peso, increased demand for military equipment and Mr Trump’s pledge to improve infrastructure.
“Firstly, gold-related companies such as Fresnillo could benefit,” investment research analyst Ian Forrest said.
Gold prices have failed to return to pre-US election highs of $1,306.20 (£1,059.54) per ounce, but controversial policies could send investors running back to safe haven assets like gold after Mr Trump takes office.
“With investors turning to the defensive nature of gold in uncertain times, others in the sector that could see an advantage include the likes of Randgold Resources and Polymetal International,” Mr Forrest said.
A drop in the peso - prompted in part by fears over future relations between the US and Mexico - could boost Fresnillo shares by cutting the company’s cost base.
Mr Forrest said: “All of the group’s operations are in Mexico, but its revenues are reported in dollars.
“Investors should note however, that a rise in US interest rates will act to dampen gold prices.”
Confidence over the state of the US economy has increased the likelihood of rate hikes by the Federal Reserve, he added.
Mr Trump’s pledge to raise defence spending by $500 billion (£406bn) to $1 trillion (£811bn) could raise demand for the defence and armament sector.
But the prospect of a more isolationist US may result in Middle Eastern countries placing military equipment orders with British rather than American firms, boosting companies like BAE Systems and Cobham, Mr Forrest said.