Turkish stocks up at open

Borsa Istanbul's BIST 100 index opens 0.42 pct higher

ANKARA (AA) - Turkey’s benchmark index gained 316.09 points to open at 74,735.19 on Tuesday after losing 1 percent on Monday.

The BIST 100 index rose 0.42 percent while the banking and holding sector indexes advanced 0.45 and 0.53 percent respectively.

Among the sector indexes, the food beverage one increased the most with a 0.75 percent rise, while the biggest decline was seen in the insurance sector index, which dropped 0.72 percent.

Turkish lira was flat against the U.S. dollar to trade at 3.2800 early Tuesday, compared to Monday's closing rate of 3.2760.

On Tuesday, The Turkish Treasury will be holding two further auctions reopening a five-year fixed coupon bond with semiannual coupon payments at 4.60 percent, and a six-year floating rate note of semiannual coupon payments.

The unemployment rate in Turkey rose 1.2 percentage point in August year-on-year, the Turkish Statistical Institute (TurkStat) revealed on Tuesday.

The number of unemployed aged 15 and over rose to 3.49 million in August 2016, an increase of 435,000 from the previous year, pushing the country’s unemployment rate to 11.3 percent.

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