Turkish Assets Rise Slightly as Oil Prices Fall

Posted by Eric Haun
Tuesday, July 08, 2014

Turkish assets rose on Tuesday as tension eased in neighbouring Iraq, leading oil prices to fall and concern about Turkey's trade balance to diminish.

The main Istanbul share index closed up 0.43 percent at 79290.79, outpacing the MSCI index of emerging markets, which was little changed.

The Turkish lira firmed to 2.1240 against the dollar from 2.1311 late on Monday.

The yield on Turkey's 10-year benchmark government bond fell to 8.97 percent from 9.01 percent.

Markets were largely unaffected by manufacturing figures hat showed Turkey's calendar-adjusted industrial production expanded 3.3 percent year-on-year in May.

(Reporting by Dasha Afanasieva; Editing by Larry King)

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