Turkish stock exchange jumps by 4.1% on Monday

By Gokhan Ergocun

ISTANBUL (AA) – Türkiye's benchmark stock exchange ended Monday at 4,768.56 points, soaring 4.1% from the previous close.

Starting the week at 4,696.17 points, Borsa Istanbul's BIST 100 index earned 187.89 points compared to Friday's close.

The political uncertainty in the country in May, which affected markets severely, ended on Sunday night when President Recep Tayyip Erdogan was reelected.

At the first stage of the election process on May 14, no candidate won the required 50% vote.

After Erdogan's victory, Borsa Istanbul has made significant recovery.

The index's lowest value on Monday was 4,622.26, while its daily high was 4,799.98.

The total market value of BIST 100 was around 3.97 trillion Turkish liras ($199 billion) by market close, with a daily trading volume of 71 billion Turkish liras ($3.5 billion).

During the day, 99 stocks on the index rose and one fell compared to the previous close.

The price of an ounce of gold was $1,964.65, while Brent crude oil sold for around $76.60 per barrel as of 6.30 p.m. local time (1530GMT).

The US dollar/Turkish lira exchange rate was 20.0990, the euro/lira exchange rate was 21.6050, and the British pound traded at 24.8270 Turkish liras.