Turkey, Turkish elections bode well for investor as markets react well and rally.

Turkish markets and assets looked set to rally on Monday after voters gave investors their ideal scenario, a third term for the ruling Justice and Development Party ( AKP ) under leadership of turkish PM Erdogan. Turkey elections resulted in victory for ruling AKP but it has not enough seats in the turkish parliament to change the constitution without cross-party consensus.

Istanbul stock exchange opens up with slight gain

The markets have perked up after the Turkish elections, with the Istanbul stock exchange opening up and gaining 0.63%. The lira has gained also 0.4 per cent (1.5698 on the dollar) with bonds down to 8.81%. Analysts think that the resounding victory of Premier Minister RecepTayyp Erdogan, without the majority-dependent referendum that would have enabled him to alter the Constitution, however, has set an ideal scene for investors who had feared developments of the political wrangling in the wake of an AKP party win.

 

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