Turkey's Borsa Istanbul hits historic high at close

BIST 100 rises nearly 1% to reach record 121,423.34 points on Tuesday

By Gokhan Ergocun

ISTANBUL (AA) - Turkey's benchmark stock index on Thursday hit the highest closing level in its history, a record 121,423.34 points, up 0.98% from the previous close.

Borsa Istanbul's BIST 100 index started the day at 120,392.65 points. As of the daily close, it had earned 1,174.31 points from last week's close of 120,249.03 points.

Analysts said the markets are feeling the positive effects of improvements in macroeconomic indicators such as inflation, CDS premiums. and GDP.

During the day, the index hovered between 119,574.71 points and 121,504.40 points. The index has been rising for 10 consecutive weeks.

The price of one ounce of gold was $1,546.20 by market close, down from $1,550 at the previous close, according to data from Borsa Istanbul's Precious Metals and Diamond Markets.

The price of Brent crude oil was around $64.60 per barrel as of 6 p.m. (1500GMT) on Tuesday.