Turkish stocks rise sharply post S&P's 'stable' outlook

Borsa Istanbul closes 1.91 percent higher; Turkish lira loses value against US dollar.

 

ANKARA (AA) - Borsa Istanbul was up 1.91 percent at the close of the daily session on Monday.

The BIST 100 index rose 1,414.79 points to close at 75,681.96. The total trading volume of the country's stock exchange market was 3.8 billion Turkish liras (approximately $1.19 billion).

The rise in the index comes after the international credit rating agency S&P upgraded Turkey’s outlook to “stable” from “negative” late Friday.

On the first trading day of the week, the banking sector index was up 1.90 percent, while the holding sector index advanced 1.41 percent.

Among sector indices, the mining sector index increased the most by 3.89 percent, while the only decline was seen in the investment trusts index which went down 0.02 percent.

The most heavily-traded stocks were the private lender Garanti Bank, cement producer Afyon Cimento, national flag carrier Turkish Airlines, state lender Halkbank, and another private lender Akbank.

Shares of the cement producer, Afyon Cimento, were the top percent gainer with an increase of 19.94 percent in value, while the country's biggest petrochemical producer company, Petkim, was the top percent loser as its shares went down 1.78 percent.

The Borsa Istanbul Gold Exchange index fell 1.33 percent in value, with gold trading at 130,700 Turkish liras (some $41,220) per kilogram.

The Turkish lira lost value against the U.S. dollar to trade at 3.1720 compared to Friday's closing rate of 3.1620.

According to analysts, investors will domestically follow the industrial production figures, while externally they are expected to follow the U.S. presidential elections.


 

 

Turkish Economy

 


 

Tags: Istanbul, turkey economy, investment, Turkey investment, bank, news turkey, economy foresight, turkey trade, bist, Salman Hamid Siddiqui, try, turkish lira, central bank turkey, central bank, central bank of turkey, turkey economy stats, try istanbul, try ankara, turkey stats, turkey economic assessment, turkey banking, turkey finance, banking news, finance news, turkey finance news, europe economy, turkey growth, forex, foreign currency exchange, forex turkish lira, eur try, usd try, europe finance, bist 100, turkstat, forex europe, europe banking news, Muhammed Ali Gürtaş

Print Email

NOTE! This site uses cookies.

If you not change browser settings, you agree to it. Learn more

I understand

A cookie is a small piece of text sent to your browser by a website you visit. It helps the website to remember information about your visit, like your preferred language and other settings. That can make your next visit easier and the site more useful to you. Cookies play an important role. Without them, using the web would be a much more frustrating experience.

  • [javascript protected email address]