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İMKB falls, world stock exchanges rise on Friday
The İMKB-100 benchmark index started the day with gains on Friday, rising by 49.5 points over Thursday’s closing to reach 59,969. The index was down by 57.83 points at the end of first half of the second trading session compared to the first session, with a loss of 0.1 percent.
On Thursday, the İMKB index registered a closing record of 59,919.48 points, a 0.71 percent gain over the previous day. The last time the index hit a similar high closing record was just one day earlier, when it reached 59,494.
The index also exceeded 60,000 for the first time in its history on Wednesday in the first session, hitting 60,112 points. The last time the index registered such a high record within a trading session was on April 15, when it reached 59,771.
Global stocks, euro rally on earnings and data
Global stocks rose on Thursday and the euro strengthened, backed by upbeat corporate results, better-than-expected US housing data, and an improvement in European manufacturing and services activity.
Expectations before the release of European banks’ stress test results appeared to show an easing of concerns as the region’s bank stocks ranked among the best performers. The increase in investors’ risk appetite prompted some selling of government bonds, while crude oil gained from a combination of improving data and a weaker US dollar. Gold prices rose modestly, briefly edging back above $1,200.
The Dow Jones industrial average rose 201.77 points, or 1.99 percent, to close at 10,322.30. The Standard & Poor’s 500 Index gained 24.08 points, or 2.25 percent, to end at 1,093.67. The Nasdaq Composite Index climbed 58.56 points, or 2.68 percent, to finish at 2,245.89. The MSCI world equity index gained 1.85 percent and the Thomson Reuters global stock index rose 1.92 percent. Tokyo’s Nikkei fell for a fifth day, ending down 0.6 percent at 9,220.88 -- its lowest close since July 2.
In Europe, the pan-European FTSEurofirst 300 index of top shares rose 2.11 percent to end at 1,039.35. European financial shares rose, with the STOXX Europe 600 banking index gaining 3.2 percent ahead of stress test results for 91 European banks. The US dollar index fell 0.97 percent against a basket of major trading-partner currencies to 82.585. The euro rose 1.26 percent to $1.2889 after a survey showed the euro zone’s private sector surged in July.
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