January 13, 2014 / 4:07 PM / 5 years ago

Turkish stocks rise as U.S. data ease stimulus worries

ISTANBUL, Jan 13 (Reuters) - Turkish stocks rose on Monday as weaker-than-expected U.S. jobs data calmed fears that a faster cut in U.S. stimulus would stem cheap capital inflows, but a wide-ranging Turkish graft probe continued to rattle the lira.

U.S. employers hired the fewest number of workers in almost three years in December, non-farm payrolls showed on Friday, surprising markets and helping lift the Turkish lira off Thursday’s record lows.

The main Istanbul index closed up 0.22 percent at 68,294 points, but lagged behind the main emerging market index , which rose 0.84 percent.

Having recovered from last week’s record lows, the lira slipped to 2.1765 against the dollar by 1546 from 2.1660 late on Friday.

The yield on Turkey’s 10-year benchmark bond rose to 10.04 from Friday’s 9.95 percent.

Turkey’s dependency on cheap foreign inflows to finance a gaping current account deficit make it especially vulnerable to tapering. (Reporting by Dasha Afanasieva; Editing by Alison Williams)

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