Bosporus 'bulls' defy terrorist threat
Turkey’s financial markets have continued to rally despite a string of bloody terrorist attacks, but their festive mood could sour at a stroke.
Over the past year, Turkey has been grappling with a rising wave of terrorism and unrest, but its financial markets seem to be little perturbed. As of March 21, the main index of the Istanbul stock exchange, BIST 100, has rallied 20% since Jan. 21, the day it hit its lowest level this year, joining the “bull market” — a term that describes markets in which share prices are rising, encouraging buying.
The index continued to rise — by more than 5% — even after October, when twin suicide bombings struck Ankara, marking the spillover of terrorism to big cities. The Oct. 10 bloodshed was followed by two other bombings in the capital and two in Istanbul, killing a total of 185 people and leaving hundreds of others injured.
