Turkish construction companies rally on expectations of Syria rebuild boost

Oyak Cimento Fabrikalari AS

09/12/2024 07:09

Dec 9 (Reuters) - Shares in Turkish construction and
cement companies surged on Monday, buoyed by expectations that
they will benefit from rebuilding in Syria after rebels
overthrew President Bashar al-Assad.
    "With the fall of the Assad regime, the reconstruction of
Syria is moving forward," said Yakup Toktamış from brokerage
Trive Yatirim.
    Shares in Turkey's largest construction company Enka İnşaat
 ENKA.IS  rose around 4%. Cement companies Bursa Çimento
 BUCIM.IS  and Oyak Çimento  OYAKC.IS  jumped 5.3% and 9.9%,
respectively. 
    Steelmaker Iskenderun Demir Çelik  ISDMR.IS  rose nearly 10%
and Emlak Konut  EKGYO.IS , one of Turkey's largest real estate
developers, gained 2.2%.

 (Reporting by Canan Sevgili in Gdansk 
Editing by Milla Nissi)
 ((canan.sevgili@thomsonreuters.com;))