Turkish shares, lira open higher Thursday

ANKARA (AA) - Turkish stocks opened higher on Thursday after the latest meeting minutes of the U.S. Federal Reserve (FOMC) did not contain an explicit reference to the timing of the next rate hike.

Borsa Istanbul's BIST-100, the country’s benchmark index, was up 0.71 percent (558.72 points) to reach 78,706.54 at the opening of the daily session Thursday, after rising 0.57 percent Wednesday.

The minutes of the Fed's July meeting Wednesday showed that nine of the 10 Federal Open Market Committee members wanted to hold a rate hike last month but officials were mostly divided about when to implement it.

According to experts, it is unlikely the Federal Reserve will raise its benchmark interest rate at its meeting on September, after minutes from July revealed dovish remarks by bank officials.

The Turkish lira on Thursday started to exchange 2.9130 against the U.S. dollar, up from 2.9240 on Wednesday.

On Thursday, Turkish police raided over 200 locations across 18 provinces, including Istanbul, on Thursday as part of a nationwide probe into the financing of the Fetullah Terrorist Organization (FETO).

Security sources said the Istanbul Counter-Financial Crimes Branch Directorate simultaneously raided addresses in the city’s Fatih, Sisli, Kagithane, Pendik and Sile districts with riot police back-up.

Officers searched the premises of business groups belonging to the Turkish Confederation of Businessmen and Industrialists (TUSKON) in 18 provinces across the country.

The source said that arrest warrants had been issued for a total of 187 people. These include: TUSKON chairman Rizanur Meral; Aydinli Group chairman Omer Faruk Kavurmaci; Faruk and Nejat Gulluoglu, owners of the well-known Gulluoglu Baklava chain.