ISTANBUL (CIHAN)- Main Turkish share index Borsa Istanbul was down 2.17 percent at 83,189 points on Thursday, underperforming the wider emerging markets index, which fell 0.68 percent.
The lira weakened sharply in response to recent dollar strength as trading resumed after a three-day holiday marking the end of
The benchmark 10-year government bond yield rose to 8.98 percent in very thin trade, up from 8.73 percent last Friday.
Shares in mobile phone company Turkcell climbed 3 percent on Thursday, boosted by news that Turkish shareholder Çukurova had agreed financing terms enabling it to recover a controlling stake in the company.
On Friday, a British court announced that financing terms had been agreed between Çukurova and its Russian partner Altimo which would enable it to recover the disputed Turkcell stake. Sources familiar with the deal said Çukurova would secure the funding from Turkish state-owned lender
Çukurova has been battling Altimo, the telecoms investment arm of
Meanwhile, Islamic lender
"After Erdogan's comments, doubts are arising as to whether the bank will be able to find a strategic partner," one Istanbul-based equities trader said.
At the start of July, sources close to the matter told Reuters that
(Cihan/Today's Zaman) CIHAN
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