The stock market is back! – Last minute Turkey and world news

SAFAKNA TURKEY – Borsa İstanbul’s decision to re-apply the increase rule, which was announced last Thursday, came into force yesterday. The step-up rule, known as the “short rule above the stock’s last trading price,” can be applied until the end of the session if the BIST 100 falls 3 percent or more during the day. In a statement posted on the website of Borsa İstanbul, it was indicated that the updated share market procedure under the amendment can be consulted on the website of the institution. After a period of losses on the Borsa Istanbul exchange, which reached record levels last September, the step-up rule was applied until the first week of October.

POSITIVE CLOSE

After losses of up to 5 percent on Wednesday, total transactions in the BIST 100 where circuit breakers were applied stood at 118.3 billion lira on Thursday. In the BIST 100, which turned positive at Thursday’s close, it was clear that the banking sector lifted the index yesterday. Borsa Istanbul, which started the day with 4754 points up 0.05 on Friday, ended the day with 4997 points up 5.16%. On the last day of the week, the total transaction volume was 96.1 billion lira. The ruling, recently shared by the Capital Markets Board, stated that funds named “Money Market” and “Short Term” could become a permanent party to share buyback agreements up to 25 percent of the fund’s total value.

FALL UNDER

In yesterday’s market activity, there was a decline in gold prices compared to previous days. Including US nonfarm payrolls data, an ounce of gold was worth $1,869. Following the Fed’s decision to raise interest rates by 25 basis points during the week, gold came to the fore as the dollar index declined. At the same time, experts stated that the upward movement may continue; He also pointed out that the attractiveness of gold for investors will continue. While yesterday Gram Gold was worth 1.156; The precious metal closed the week lower for the first time in seven weeks.

US NON-FARM EMPLOYMENT IS SURPRISED

US nonfarm payrolls, one of the most important data for the week, beat expectations and increased by 517,000 in January. So far, expectations are upwards of 188,000; The country’s unemployment rate has fallen to its lowest level since 1969. Unemployment data released in January was 3.4%, below the expected 3.6%. After the announcement of the data, the dollar index rose, and the decline in US stock markets attracted attention. The yield on 10-year US bonds exceeded 3.46 percent.

IMF WARNING OF INTEREST

The International Monetary Fund (IMF) said in a statement that interest rates must remain at higher levels for a long time in order for central banks to reach their expected inflation target. “Central banks should report that it is likely that interest rates will need to be kept higher for an extended period of time until inflation is proven to be steadily returning to its target,” said Tobias Adrian, head of the Department of Money and Capital Markets. IMF. , and his associates. “Early easing could run the risk of resuming inflation during the recovery,” he said.