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Two More Tremors Hit South-Eastern Turkey

TURKEY
  • A pair of earthquakes measuring 6.4 and 5.8 in magnitude struck Turkey’s southeastern Hatay province Monday, Bloomberg report, just two weeks after the devastating earthquakes on February 6. Three people were killed and 213 taken to hospital after the quakes on Monday evening, Interior Minister Suleyman Soylu said in a televised statement, telling the public to stay away from damaged buildings. At least six people were injured in Syria, AP reported.
  • Cement maker stocks rose by the daily 10% limit to all-time highs after the two additional tremors added to the damage from the February 6 earthquakes, Bloomberg report. The benchmark Borsa Istanbul 100 Index rose 1.8%, extending gains for a fifth day since reopening on the back of a number of market stabilisation measures (lower reserve ratios among banks in earthquake struck areas, looser regulations and rules around stock buybacks, limits on gold imports) introduced by the government.
  • There is little in the way of economic releases or speaker events today, with the CBRT rate decision taking focus this Thursday. Click here to see the full MNI Preview, including sell-side analyst views.

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