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4 years ago
Turkish lira firms on U.S. standoff; Gozde shares jump
October 7, 2013 / 3:37 PM / 4 years ago

Turkish lira firms on U.S. standoff; Gozde shares jump

ISTANBUL, Oct 7 (Reuters) - The Turkish lira firmed on Monday in low-volume trade as the U.S. government shutdown pressured the dollar, while shares in Yildiz Holding's finance unit Gozde Girisim jumped 14 percent after its parent company pledged new investment.

The dollar came under pressure as the impasse over the week-old U.S. government shutdown became entangled in negotiations to raise Washington's borrowing limit or risk default on U.S. sovereign debt.

The lira had firmed slightly to 1.9905 against the U.S. currency by 1510 GMT, from 1.9930 late on Friday. The 10-year benchmark bond yield fell to 8.94 percent from 8.96 percent.

Shares in Gozde Girisim rose 14 percent to 5.64 lira after parent company Yildiz Holding said proceeds of its sale of a 20 percent stake in its Ulker Biskuvi unit would partly be invested in Gozde.

Istanbul's main share index was down 0.4 percent at 75,901.17 points, in line with emerging market peers which were down 0.33 percent. (Writing by Ece Toksabay; Editing by Nick Tattersall and Pravin Char)

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