Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Turkey Stocks Rise for 2nd Day as Consumer Confidence Rebounds

Don't Miss Out —
Follow us on:

Dec. 16 (Bloomberg) -- Turkish stocks rose for a second day after consumer confidence rebounded in November from last month’s year-low and better-than-expected U.S. data signaled the world’s biggest economy is strengthening.

The benchmark ISE National 100 Index rose 0.5 percent to 51,886.47 at 10:09 a.m. in Istanbul, paring this week’s decline to 3.2 percent.

A gauge of Turkish consumer confidence rose in November to 91, advancing from last month’s year-low of 89.7, according to data released by the Ankara-based statistics agency today. U.S. initial jobless claims unexpectedly dropped to a three-year low and Federal Reserve gauges of manufacturing in the New York and Philadelphia regions topped estimates.

“The consumer confidence data definitely contributed to the positive momentum at the stock exchange,” Tunc Obuter, chief trader at Garanti Yatirim Menkul Kiymetler in Istanbul, said by telephone. The stock market opened higher tracking Asian markets, which rose for the first day in four on the U.S. data, he said.

To contact the reporter on this story: Selcuk Gokoluk in Istanbul at sgokoluk@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.