Turkey's BIST 100 slides over 8% with politics in focus - Breaking The News

Turkey's BIST 100 slides over 8% with politics in focus

19 March

1 min read

EPA-EFE/TOLGA BOZOGLU

Turkey's most important stock index, the BIST 100, dropped sharply on Wednesday, falling over 8%, as the country was hit by a political ruckus.

Earlier today, Istanbul Mayor Ekrem Imamoglu, who is a part of the Republican People's Party (CHP) and was supposed to become its candidate for the 2028 presidential elections, was arrested over an investigation related to corruption and terror. Imamoglu, one of Turkish President Recep Tayyip Erdogan's biggest political competitors, was previously stripped of his university degree as well. CHP Chairman Ozgur Ozel condemned the arrest. "Currently, there is a power in place to prevent the nation from determining the next president. We are facing an attempted coup against our next president," Ozel stressed.

The BIST 100 nosedived 8.11% or 875 points at 1:29 pm CET.

markets

Related Stocks

BIST

Japan's Hayashi says govt watching markets with 'sense of urgency'

4 September

Japan's Chief Cabinet Secretary Yoshimasa Hayashi stated that Tokyo is watching domestic and overseas market changes with a "sense of urgency" but did not provide comments on daily share moves in the wake of Nikkei slumping 3.50% on Wednesday. Hayashi said the government will dedicate itself to "fiscal and economic policy management" and cooperate closely with the Bank of Japan (BOJ). The secretary also underlined the importance of calmly assessing...

FCA unveils biggest listing rule overhaul in 'three decades'

11 July

The United Kingdom Financial Conduct Authority (FCA) announced on Thursday the major overhaul of listing rules in over three decades. The measures are set to enhance growth and innovation in UK stock markets.The new rules, effective from July 29, aim to simplify the listing process, making it easier for companies to list shares on UK exchanges and increasing opportunities for investors. Key changes include a single listing category and streamlined eligibility...

Euro drops to two-year lows after Trump's tweet

30 August

The euro dropped over half a percentage point and hit lows last seen in July 2017 on Friday after United States President Donald Trump tweeted about the currency. Trump blamed the Federal Reserve earlier in the day, saying US exporters are suffering because of the strong dollar. The euro hit a daily low of 1.09870 compared to the dollar and was trading 0.53% lower compared to the US currency at 11:10 am ET, changing hands at 1.00974.

S&P 500 is worse off if Patriots win Super Bowl - report

3 February

The S&P 500 does better in years when the New England Patriots lose the Super Bowl compared to the years they win it, Axios reported on Sunday, citing LPL Financial Research. On average, the S&P 500 gained an annual 1.5% when the Patriots won the Super Bowl. However, when they were the losing team, the S&P rose an average 2.9%, the report said. The Patriots last won the Super Bowl in 2017. The index is currently down 2.01% over the last 12 months,...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.