ISTANBUL Dec 24 Turkish equities bounced back
on Monday from a slump late last week, with shares in lender
Aktifbank climbing after it said its main stakeholder was
considering selling its holding to Commercial Bank of Qatar.
The lira and bonds weakened in thin trade before holidays in
many markets. By 1545 GMT, the lira had weakened to 1.7975 to
the dollar, from 1.7963 late on Friday. Against the
euro-dollar basket, it eased to 2.0852 from
The yield on Turkey's two-year benchmark bond
closed at 6.06 percent, slightly up from
Friday's close at 6.02 percent.
Domestic markets will be open while western investors
celebrate Christmas Day. The Turkish central bank holds a news
conference at 0800 GMT on Tuesday to outline its expectations
for 2013 monetary policy.
Istanbul's main share index closed up 0.82 percent
at 77,314 points, on the back of a 1 percent rise in banking
shares and outstripping a rise of 0.08 percent in the
global emerging markets index.
"Shares rose as a reaction to last week's fall. The index
should continue to move between 76,000-78,000 levels," said
Ozgur Yurtdasseven, a research manager at Garanti Securities.
Shares in Turkish lender Aktifbank leapt 15.75
percent to 1.69 lira after it said Anadolu Holding, which has a
77.7 percent stake in the bank, will start talks to sell its
stake to Commercial Bank of Qatar.
Shares in steel pipe manufacturer Borusan Mannesmann
rose 2.61 percent to 27.5 lira after it said it would
invest $150 million in a plant in the United States to tap the
shale gas boom.
(Writing by Seltem Iyigun)