Posted on 14 February 2011
Turkish stocks may soar to record in 2010
The ISE (Istanbul Stock Exchange) National 100 Index jumped 3.7 percent in one day after Fitch lifted Turkey to BB+, the highest speculative-grade rating, citing the economy’s “resilience” during the global financial crisis.
The gauge is “in a very strong technical position which has it ‘poised to soar’ from current levels”, Richard Ross, a global technical strategist at Auerbach in New York, wrote in a report. Turkey’s stock index will probably test its record of 58,864, set on October 15, 2007, within the next six to nine months, after which it may “push out” to a new high of about 63,000 by the end of 2010, according to the note.
9 December 2009 Invest in Turkey (Bloomberg)