Turkish stocks climb on bank results
ISTANBUL Oct 25 (Reuters) - Turkish stocks rose on Friday after better than expected third-quarter results from a bank and a mobile operator, ending a week that saw sentiment buoyed by expectations of a delay in a U.S. Federal Reserve stimulus cut.
The main Istanbul share index closed up 0.54 percent at 79,271.50 points, outperforming the broader emerging markets index, which was down 0.43 percent.
Turkish lender Garanti, the country's largest company by market capitalisation, rose 1.7 percent after reporting a smaller than expected, 11 percent drop in its third-quarter net profit.
Turkey's biggest mobile phone operator, Turkcell, rose 0.4 percent after it posted net income of 699 million lira ($353.1 million) on sales of 2.98 billion lira in the third quarter.
The lira weakened slightly to 1.9779 against the dollar by 1448 GMT compared with 1.9768 late on Thursday.
The 10-year benchmark bond yield slipped to 8.56 percent from Thursday's 8.57 percent.
Delays in the Fed's tapering, which had been expected to start in September, have given support to Turkish assets this week.
But the country remains vulnerable to capital outflows because of its large current account deficit, running at 7 percent of GDP. ($1 = 1.9796 Turkish liras) (Reporting by Dasha Afanasieva; editing by Tom Pfeiffer)
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