Borsa Istanbul resumes upward move

ANKARA (AA) – Borsa Istanbul advanced for the second day on Monday and closed with optimism from global markets’ positive outlook following on from weaker-than-expected unemployment data from the U.S. last Friday.

BIST 100 index closed the day at 77,791.60 points, up 1.18 percent or 907.29 points, resuming the move started at the end of last week.

At the end of last week, BIST 100, the sole stock exchange of the Turkish market, closed the day at 76,884.32 points, soaring 1.36 percent or 1,031.52 points after weak U.S. August non-farm payroll data on the day eased global market tensions of a Fed rate hike.

Starting the week in a positive mood, the index was also supported by a better-than-expected August consumer prices inflation report which indicated annual inflation in the month was 8.05 percent, significantly lower than the 8.79 percent recorded in July.

The U.S. dollar versus Turkish lira, which started early trading hours from 2.9450, was relatively flat during the day, hovering around 2.9460 at 6 p.m. (1500 GMT) local time.