Türkiye's BIST 100 index ends week with gains

By Mucahithan Avcioglu

ISTANBUL (AA) - The Turkish benchmark stock index closed Friday at 10,840.59 points, rising by 1.05% from the previous close.

The BIST 100 index, starting the day at 10,772.35, gained 113.01 points from the close on Thursday.

The lowest point for the index during the day was 10,726.27, while the daily high was 10,862.97.

During the day, 81 indexes gained value while 17 closed the day with losses.

The total transaction volume reached 121.1 billion Turkish liras ($3.3 billion), while the overall value of the index was 9.63 trillion liras ($263.6 billion).

The USD/TRY exchange rate was 36.6760 as of 6.30 p.m. local time (1530GMT), the EUR/TRY rate stood at 39.9460, and the GBP/TRY traded at 47.4225.

The price of gold was $2,981.30 per ounce, slightly below the record high levels around $3,004 on Friday as the persistent demand for safe-haven assets was driven by increasing concerns over US tariffs and global economic uncertainties.

Fears of an escalating global trade war have intensified as US President Donald Trump has imposed 25% tariffs on all steel and aluminum imports on Wednesday.

Countries swiftly retaliated to the tariffs, vowing and imposing counter-measures.

Trump on Thursday also threatened to impose 200% tariffs on alcohol drinks from the EU unless bloc withdraws a 50% tariff on American whisky.

The price of Brent crude oil was at $69.90 per barrel as of 6.30 p.m. (1530GMT).