For Istanbul Stock Investors, Germany-Turkey Spat Is Hot Air
- Ankara-Berlin feuding hasn’t halted benchmark’s 41% rally
- Germany, Turkey are ‘too dependent’ on each other: Levashova
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While angry exchanges between Germany and Turkey have pushed diplomatic relations between the countries to new lows, Istanbul stock investors appear confident the feuding will be limited to verbal jousting.
Bellicose utterances out of Ankara and Berlin’s responses haven’t done much to pause the rally in Turkish stocks: the benchmark index has gained about 41 percent so far in 2017, making it one of the world’s five best-performing markets as investors pursue enticing returns in emerging stock markets like Istanbul’s.