Turkey stocks, lira open flat after profit-taking

ANKARA (AA) - Borsa Istanbul's BIST-100, the country’s benchmark index, was up 0.16 percent (124.08 points) to 78,079 at the opening of the daily session Thursday, after retreating 0.72 percent following fluctuating oil prices and profit-taking Wednesday.

The Turkish lira was slightly higher than the previous day's close. The lira fell to 2.96 against the dollar after gaining 0.30 percent Wednesday.

The lira also appreciated by 0.05 percent against the basket composed of $0.50 and €0.50 Wednesday following the optimistic atmosphere generated by the restoration of Turkish-Russian ties from a crisis last November.

The local fixed-income markets were positive. The two-year benchmark bond was traded within a tight range of 9.15 percent-9.18 percent, ending the day at a low of 9.15 percent, 9 base points below its previous close.

The country's current account deficit rose to $4.9 billion this June, compared to $3.2 billion a year earlier, the Turkish Central Bank said on Thursday.

On Thursday, the benchmark 10-year government bond yield remained at 9.40 percent without change.

Turkey's biggest petrochemicals firm Petkim is expected to announce its Q2 2016 profit Thursday.

The market will also be following the announcement of jobless claims Thursday from the U.S., the world's largest economy.