Shares in Turkish building and cement corporations surged on Monday, propelled by expectations that they may profit from rebuilding in Syria after anti-regime forces overthrew longtime ruler Bashar Assad.
In one of many largest turning factors for the Middle East in generations, opposition forces seized the Syrian capital, Damascus, and Assad fled to Russia following 13 years of civil struggle and greater than 50 years of his household’s brutal rule.
Türkiye will work for the Syrian migrants it hosts to return dwelling safely and for the reconstruction of Syria after Assad’s ouster, Foreign Minister Hakan Fidan mentioned on Monday.
“With the fall of the Assad regime, the reconstruction of Syria is moving forward,” mentioned Yakup Toktamış from brokerage Trive Yatırım.
Yusuf Doğan, head of Global Markets Research at Info Yatırım, mentioned there can be vital alternatives for Turkish corporations within the building, cement and metal sectors following the political shift in Syria.
Türkiye’s geographical proximity and current commerce relations give its corporations an edge in Syria’s reconstruction course of, Doğan added.
Shares in considered one of Türkiye’s largest building corporations, Enka Inşaat, rose round 4%. Cement corporations Bursa Çimento and Oyak Çimento jumped 5.3% and 9.9%, respectively.
Steelmaker Iskenderun Demir Çelik rose almost 10% and Emlak Konut, considered one of Türkiye’s largest actual property builders, gained 2.2%.
“Major gamers like Enka and Emlak Konut GYO are anticipated to take energetic roles in rebuilding efforts. Additionally, companies like Bursa Çimento and Iskenderun Demir Çelik are prone to profit from elevated demand for cement and metal,” mentioned Doğan.
However, he additionally urged warning. “These large-scale projects will take time to implement and stabilize. Investors should closely monitor political and economic developments,” he famous.
Türkiye’s non-metal index, which incorporates cement corporations, was up 6.57%, whereas the development index rose 2.79%.
Trive Yatırım’s Tokatmış additionally mentioned cement producers like Limak Doğu Anadolu Çimento and Oyak Çimento are poised to profit, whereas Enka in building and Kardemir in metal stand to achieve from large-scale undertaking contracts.
Serhat Başkurt, director of Algorithmic Trading at ALB Yatırım, mentioned cement and metal can be the core catalysts for Syria’s reconstruction as soon as the brand new authorities is fashioned.
“Limak Doğu Anadolu Çimento, situated close to the border, stands to achieve instantly. Bursa Çimento’s 1.4 million-ton clinker manufacturing capability units it aside. Enka’s confirmed observe report in large-scale worldwide tasks positions it as a significant contender,” Başkurt defined.
“Enka is the largest contracting firm in Türkiye that undertakes international projects. Iskenderun will leverage the advantage of supplying iron on the construction side.”
Source: www.dailysabah.com