Turkey's markets react well to ruling AK Party victory

Monday, March 31, 2014

Turkey's markets and assets reacted positively on Monday after the ruling AK Party´s local election victory.

Turkey's markets and assets reacted positively on Monday after the ruling AK Party´s local election victory.

ISTANBUL - Turkey's markets and assets looked set to rally on Monday after voters gave a vote of confidence to the ruling Justice and Development (AK) Party led by Prime Minister Recep Tayyip Erdogan in the country´s local elections. 

The markets have reacted well to the local elections, with Borsa Istanbul's BIST-100 index opening up and gaining 1.95 percent. The benchmark BIST-100 index increased by 1,347.41 points from its starting point at 70,464.73.

The lira has also gained against the US dollar, moving to 2.16 Turkish lira to a US dollar from 2.17. Analysts think that the AK Party victory shows that the country will remain stable.

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