Turkish stocks gripped by concern
Güncelleme Tarihi:
Daily News with wires
Oluşturulma Tarihi: Şubat 03, 2009 00:00
ISTANBUL - Turkish stocks and the Turkish Lira fell for a third day yesterday, largely over concerns that the government may opt for not signing a loan accord with the International Monetary Fund.
The benchmark IMKB-100 index of the Istanbul Stock Exchange slid to 25,270 points, down 2.5 percent compared to Friday’s close. Banks led the decline yesterday, with Garanti Bank falling nearly 4.5 percent, Denizbank falling more than 4.3 percent and Akbank shedding nearly 3.8 percent.
The U.S. dollar climbed to over 1.65 liras at 5:15 p.m. yesterday, rising 0.60 percent over Friday’s close. "[Economy Minister Mehmet] Şimşek’s comments on the IMF talks are deteriorating sentiment," Bloomberg quoted Mehmet İlgen, a trader at Ata Invest, as saying. "The decline in global markets is also adding to the selling pressure."
The U.S. dollar climbed to over 1.65 liras at 5:15 p.m. yesterday, rising 0.60 percent over Friday’s close. "[Economy Minister Mehmet] Şimşek’s comments on the IMF talks are deteriorating sentiment," Bloomberg quoted Mehmet İlgen, a trader at Ata Invest, as saying. "The decline in global markets is also adding to the selling pressure."