Turkish stocks end week 1.74% up

ANKARA

Turkey's benchmark stock index ended the week up 1.74% to close at 86,072.28 points on Friday.

After starting the last business day of the week at 84,989.23 points, Borsa Istanbul's BIST 100 index climbed 1,476.12 points from 84,596.16 points at Thursday's close.

On a weekly basis, the benchmark index posted a 0.83% decline. At the beginning of this year, the BIST 100 stood around 89,000 points.

During Friday's trading, the BIST 100 hovered between 84,985.93 points and 86,496.30 points -- 86 stocks on the index rose, eight fell, and six were flat compared to the previous close.

Closing the week with a market value of nearly 570 billion Turkish liras ($93 billion), the benchmark index posted a daily trading volume of 6.39 billion Turkish liras ($1.05 billion).

By market capitalization, Turkish conglomerate Koc Holding ($6.32 billion), private lenders Garanti BBVA ($5.19 billion) and Akbank ($4.89 billion) were the leading companies of BIST 100.

Shares of Garanti BBVA, national flag carrier Turkish Airlines, and state-run lender Halkbank recorded the highest trading volumes on Friday -- accounting for nearly 40% of the benchmark index's total trade volume.

Stocks of energy and construction company Isiklar Enerji Yapi Holding (IEYHO) showed the top performance -- up 15.62% -- as shares of BIM Birlesik Magazalar (BIMAS), a major Turkish retail sale chain, did the worst with a 1.74% drop.

One ounce of gold was sold for $1,282.50 at the weekly close in Borsa Istanbul's Precious Metals and Diamond Markets, versus $1,278.50 at the previous close.

The price of Brent oil was $67.55 per barrel as of 6.15 p.m. local time (1515GMT) on Friday -- with a day range of $67.33 to $68.95.

At the beginning of 2019, a barrel of Brent oil was sold for around $53.