Skip to content
Subscriber Only

Soaring Turkish Cement Makers Not Stopping After Trump Tweets

  • Shares of Mardin Cimento have risen 35% in past two sessions
  • Cement-maker stocks boosted by hopes of Syria rebuilding work

While Donald Trump’s latest tweets on Turkey’s planned incursion into Syria have dragged the country’s benchmark equities gauge and other lira assets lower, they are having the opposite effect on its cement makers.

Mardin Cimento shares have surged 35% in the past two trading sessions, while rival Unye Cimento has gained almost 10%. According to Toygun Onaran, head of equity research at Istanbul-based Oyak Securities, the stocks are being fueled by optimism that demand will be boosted by housing and infrastructure projects needed for refugees in northern Syria.