Ashtead is in demand after a couple of good portents from the US, where the equipment hire company has around 80% of its business.
Its shares have climbed 4.4p to 120.4p, a near 4% increase, as the US architects billing index went above 50 for the first time since January 2008.
At the same time United Rentals - Ashtead's biggest US peer - announced forecast-beating third quarter figures.
Analyst Alex Hugh at UBS said the read across from both announcements was positive for Ashtead:
Commentary [on the billing index] suggests it is being driven by the commercial/industrial sector which is key for Ashtead and would be fifth consecutive month of expansion.
[United Rentals results] shows rental penetration is accelerating, suggesting rental companies can grow even when non-residential construction isn't.
RBS analyst Mark Howson was also positive, issuing a buy note on Ashstead, saying its shares were still at a discount to the likes of United Rentals.
Speaking of the US, Wall Street has opened positively, up more than 70 points following better than expected profits from Boeing. The focus has shifted from yesterday's main concern - China's interest rate rise - to a number of corporate earnings figures which are due to emerge during the day.
However the US optimism has done little for London's shares, with the market underwhelmed by the spending review. The FTSE 100 is currently down 3.71 points at 5700.18.
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