World Bulletin / News Desk
Turkey's stock exchange dropped 255.43 points at the start of trading Thursday, a 0.27 percent fall as the country headed for a three-day weekend.
The banking and holding sector indices fell 0.40 percent and 0.29 percent respectively ahead of Friday’s national holiday.
Investment trusts performed best, 0.53 percent up on Wednesday’s close, while the textile/leather index saw the biggest drop, falling 1.24 percent.
At Wednesday’s close, the BIST 100 was down 436.55 points to 95,724.950 points, with a total trading volume of 6.1 billion Turkish liras ($1.7 billion).
The Turkish lira was 3.5920 to the U.S. dollar at 9.30 a.m. local time (0630GMT) Thursday, compared with 3.5600 at Wednesday’s close.
The Turkish consumer confidence index rose 2.1 percent to 72.8 in May compared to April, according to the Turkish Statistical Institute on Thursday.
Frankfurt equities sagged despite a rally for shares in German heavy industry giant ThyssenKrupp, which announced a deal with Indian group Tata to merge their steel operations in Europe.
BIST 100 index drops 0.02 pct while US dollar/Turkish lira rate stands over 3.48
The move was seen as a bid to weather US-imposed sanctions on the embattled country.
Regulators decided in May to fine Banco Popolare di Vicenza a total of 11.2 million euros ($13.4 million), the ECB said in a press release.
BIST 100 index rises slightly 0.09 pct while US dollar/Turkish lira rate falls to 3.43
BIST 100 index rises 0.10 pct while US dollar/Turkish lira rate stands around 3.46
Borsa Istanbul's BIST 100 index goes down 0.89 pct at close, USD/TRY rate stands around at 3.44
The International Energy Agency also said production by the OPEC cartel and its allies fell in August and compliance with their pact to cut supply to the markets increased.
BIST 100 index rises 0.11 pct while US dollar/Turkish lira rate stands around 3.40
Loan to be used to increase domestic savings, enhance economic participation, ensure sustainable growth, says Treasury
Demand, government incentives, reforms cited as reasons for better-than-expected GDP growth