Iran Crisis Hands Turkey Stocks an Opening to Win Back Investors
- Istanbul stocks trade near record discount to emerging peers
- Positive outlook from banks helped to spur ‘Super Thursday’
The Borsa Istanbul SA stock exchange.
Photographer: Ismail Ferdous/BloombergThis article is for subscribers only.
Turkish stocks turned out to be this week’s surprise winners from the Middle East crisis. And there several reasons why Istanbul equities may make the most of their moment in the spotlight to hold on to foreign investors’ attention.
The Borsa Istanbul 100 Index surged 4.5% Thursday, its biggest jump since November 2015 and outperforming more than 90 other global equity benchmarks tracked by Bloomberg, reflecting relief as concerns over an escalation in tensions between the U.S. and Iran dissipated.