7/22/2016, 11:59 AM (Source: TeleTrader)
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Turkish stocks, lira rebound

Stocks on Istanbul stock exchange began recovering at midday on Friday, a day after the government announced introduction of the state of emergency. On Tuesday, Turkish central bank (TCMB) cut marginal funding rate from 9.00% to 8.75%.

The Dow Jones Turkey Titans 20 index fell 0.43% to 741.06 at 11:58 a.m. CET, after rising during the previous hour. The BIST 100 index was up 0.45% at 72,479 points at 11:30 a.m. CET, with all main sectors – financials, industrial and services – recovering.

The lira got stronger compared to the period before the failed coup d'état on July 15. It was still highly volatile, but was holding around levels from May. The lira rose 0.51% against the euro to 3.3713 and added 0.38% compared to the U.S dollar to 3.0571, both at 11:59 a.m. CET.

Baha Breaking News (BBN) / ZR