Sharp fall on ISE following news from Moody’s

ISE (Istanbul Stock Exchange) which displayed a brilliant performance in 2012 and continued likewise in the first 3 weeks of January 2013 was hit badly by unfavorable remarks from international credit rating establishment Moody’s.

ISE started with a rise of 30 points to 81,196 early on Monday where banking stocks enjoyed an increase of 0,04 percent.

However following statements by Moody’s indicating Turkey was not expected to be granted an increase in credit note the market suffered a fall of 5,85 percent at the time of closing on Monday.

Luckily, as Moody’s confirmed the positive outlook simultaneously, the bond market did not experience a serious negative effect.

Experts strongly believe this undesired negative impact on the stock market will not be there to stay and ISE has proved to be strong enough to make up for it quite rapidly.

29.01.2013
BTT, Editor