Good news travels far

Good news for the Istanbul Stock Exchange...

Markets around the world soared yesterday, with the Istanbul Stock Exchange in Turkey closing its first session up almost 10 per cent.

The good news started with the US announcement of a £10 billion bailout plan for Citigroup, positively affecting global markets, and the momentum in the Istanbul Stock Exchange picked up more speed with a stream of good news from the domestic environment.

"The increase in the Istanbul Stock Exchange was higher than European markets because people are expecting the Government to sign a standby deal with the International Monetary Fund," Izak Bilmen, from BGC Partners, said, adding that the markets were further boosted by investor belief that "the Government is going to launch another economic package to revive the domestic markets and help small and medium-sized enterprises."

Source: Select Property